raajmarg-infra-investment-trust

Registered with SEBI in December 2025, RIIT is the second InvIT from NHAI (after National Highways Infra Trust - NHIT). It has been established to acquire, operate, and maintain operational road infrastructure assets developed under the Toll Operate Transfer (TOT) model.

Business Verticals (Initial Portfolio)

The Trust holds an initial portfolio of five operational toll road projects spanning approx. 260 km across four states:

• Jharkhand: Gorhar to Barwa Adda (80.52 km)

• Andhra Pradesh: Chilakaluripet to Vijayawada (69.41 km)

• Tamil Nadu: Chennai Bypass (32.60 km) and Chennai to Tada (33.02 km)

• Karnataka: Nelamangala to Tumkur (44.60 km)

Business Model

RIIT generates income through toll collection on high-traffic national highway stretches. These assets form critical links in the Golden Quadrilateral and East Coast Corridor. The Trust aims to provide stable and predictable long-term cash distributions to unitholders, derived from 15-year concession agreements with NHAI.

Track Record

• Sponsor Strength: Backed by NHAI, ensuring high-quality asset selection and government support.

• Revenue Potential: The five identified stretches reported a combined toll collection of ₹860 Cr in FY25, reflecting a 9% growth over the previous year.

• Institutional Backing: The Investment Manager (RIIMPL) is a joint venture between NHAI and leading banks including SBI, PNB, ICICI Bank, and HDFC Bank.

Raajmarg Infra Investment Trust IPO GMP

As of today, March 3, 2026, the Grey Market Premium (GMP) has not yet stabilized as the price band is still pending.

Note: Being a government-backed infrastructure instrument, InvITs are generally viewed as "yield-play" investments rather than high-premium listing gain opportunities.

Raajmarg Infra Investment Trust IPO Allotment Status

The allotment is expected to be finalized on or around Mar 16, 2026.

Check RIIT Allotment Status To check your status online, visit: Check Allotment Status Here

You can verify your status via:

• Registrar's website (Kfin Technologies Limited)

• BSE and NSE official portals

• Using your PAN number or Application number

Strengths

• Sovereign Pedigree: Strong backing from NHAI provides a high level of trust and operational stability.

• Diversified Cash Flows: Pooled revenue from projects across four different states reduces region-specific risks.

• High Yield Potential: Designed to distribute at least 90% of net cash flows to investors, making it attractive for long-term income seekers.

• Strategic Assets: The road stretches are part of the Golden Quadrilateral, which handles the bulk of India's commercial freight.

Weakness

• Traffic Risk: Revenue is directly linked to traffic volume, which can be affected by economic slowdowns or the development of alternate routes/high-speed rails.

• Regulatory Risk: Changes in tolling policies or InvIT regulations by the government or SEBI could impact returns.

• Interest Rate Sensitivity: As a yield-driven instrument, the attractiveness of InvIT units may decrease if general interest rates in the economy rise.

• Limited Track Record: RIIT is a newly settled trust with no independent historical financial performance as a consolidated entity.

How the Trust Will Use IPO Money

The proceeds of ₹6,000 crores will be utilized for:

• Concession Fee: Payment of the initial concession fee to NHAI for the five road assets.

• Debt Management: Providing loans to the Project SPV for the repayment of existing borrowings.

• General Corporate Purposes: Funding operational expenses and future asset acquisitions.

Lead Managers

SBI Capital Markets, Axis Capital, ICICI Securities, and Motilal Oswal Investment Advisors.

Registrar

Kfin Technologies Limited

Address: Selenium Tower B, Plot 31 & 32, Financial District, Nanakramguda, Hyderabad - 500 032.

Phone: +91 40 6716 2222

Email: riimpl.invit@kfintech.com