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Raajmarg Infra Investment Trust InvIT IPO

₹15,000/15000 shares

Minimum Investment

IPO Details

Open Date

11 Mar 26

Close Date

13 Mar 26

Minimum Investment

15,000

Lot Size

15000

Price Range

99 to ₹100

Listing Exchange

NSE, BSE

Issue Size

6,000 Cr

Listing Date

24 Mar 26

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Raajmarg Infra Investment Trust InvIT IPO Timeline

Bidding Start

11 Mar 26

Bidding Ends

13 Mar 26

Allotment Finalisation

18 Mar 26

Refund Initiation

20 Mar 26

Demat Transfer

23 Mar 26

Listing

24 Mar 26

About Raajmarg Infra Investment Trust

Incorporated as an infrastructure investment trust and registered with SEBI, Raajmarg Infra Investment Trust (InvIT) is sponsored by the National Highways Authority of India (NHAI) . It has been established to acquire, operate, and maintain operational road assets under NHAI’s Toll Operate Transfer (TOT) model. Its initial portfolio comprises five operational toll roads spanning approximately 260 km across Jharkhand, Andhra Pradesh, Tamil Nadu, and Karnataka, forming a crucial part of India’s Golden Quadrilateral network.

Raajmarg Infra Investment Trust InvIT Overview

Raajmarg Infra Investment Trust IPO is a book build issue of ₹6,000.00 crores. The issue is entirely a fresh issue of 60.00 crore shares of ₹6,000.00 crore. Raajmarg Infra Investment Trust IPO opens for subscription on Mar 11, 2026, and closes on Mar 13, 2026. The allotment for the Raajmarg Infra Investment Trust IPO is expected to be finalized on Mar 18, 2026. Raajmarg Infra Investment Trust IPO will list on BSE, NSE, with a tentative listing date fixed as Mar 24, 2026. Raajmarg Infra Investment Trust IPO price band is set at ₹99 to ₹100 per share. SBI Capital Markets Ltd. is the book-running lead manager, and Kfin Technologies Ltd. is the registrar of the issue. Raajmarg Infra Investment Trust InvIT Details

Particulars Details
IPO Date 11 March 2026 to 13 March 2026
Listing Date 24 March 2026
Face Value ₹10 per Unit
Price Band ₹99 to ₹100 per Unit
Lot Size 150 Units
Total Issue Size 60,00,00,000 units (aggregating up to ₹6,000 Cr)
Fresh Issue 60,00,00,000 units (aggregating up to ₹6,000 Cr)
Offer for Sale NA
Issue Type Book building InvIT
Listing At BSE, NSE
Shareholding Post Issue To be declared

Raajmarg Infra Investment Trust InvIT Reservation

Investor Category Shares Offered
QIB Not more than 75.00% of the Net Issue
NII (HNI) Not less than 25.00% of the Net Issue
Retail Not applicable

Raajmarg Infra Investment Trust InvIT Lot Size

Application Lots Units Amount
HNI (Min) 1 150 ₹15,000

Raajmarg Infra Investment Trust InvIT Promoter Holding

Shareholding Status Percentage
Pre-Issue 100.00%
Post-Issue

Objectives of the Proceeds

  • Infusion of debt/equity into Project SPV for concession payment to NHAI (₹5,850 Cr)
  • General corporate purposes

Peer Group Comparison

As per the RHP, there are no comparable listed peers for the InvIT.

SWOT Analysis of Raajmarg Infra Investment Trust InvIT IPO

Strength and Opportunities

  • Experienced NHAI sponsorship ensures strong government backing and expertise 
  • Portfolio of five long-term revenue-generating toll roads in key economic corridors 
  • Significant future growth visibility via Right of First Offer on 1,500 km of NHAI roads 
  • Concession agreements with NHAI offer low counterparty risk and long-term revenue stability 

Risks and Threats

  • Newly established trust with no operating history for investors to assess 
  • Dependence on the Investment Manager and Project Manager for all operations and decisions 
  • Ability to make distributions depends entirely on the financial performance of the project SPVs 
  • Evolving InvIT regulations in India could introduce compliance challenges and material adverse effects 

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