Raajmarg Infra Investment Trust IPO

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Raajmarg Infra Investment Trust IPO details

11th – 13th Mar 2026
24 Mar 2026
₹99 – ₹100
6000cr

Schedule of Raajmarg Infra Investment Trust

Issue open date 11 Mar 2026
Issue close date 13 Mar 2026
UPI mandate deadline 13 Mar 2026 (5 PM)
Allotment finalization 18 Mar 2026
Refund initiation 20 Mar 2026
Share credit 23 Mar 2026
Listing date 24 Mar 2026
Mandate end date 28 Mar 2026
Lock-in end date for anchor investors (50%) 13 Apr 2026
Lock-in end date for anchor investors (remaining) 12 Jun 2026

Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.

About Raajmarg Infra Investment Trust

Raajmarg Infra Investment Trust (“Raajmarg InvIT”) is an infrastructure investment trust established in India on November 24, 2025, under the Indian Trusts Act, 1882 and registered with SEBI as an InvIT on December 22, 2025. The Trust is sponsored by the National Highways Authority of India (NHAI), with Raajmarg Infra Investment Managers Private Limited acting as the Investment Manager and IDBI Trusteeship Services Limited as the Trustee. The Trust has been formed to invest in and manage operational national highway assets through special purpose vehicles (SPVs), primarily under concession arrangements. Its portfolio includes toll-operating road assets such as Chennai Bypass, Chennai–Tada, Chilakaluripet–Vijayawada, Gorhar–Barwa Adda, and Neelmangla–Tumkur sections of national highways. Raajmarg InvIT’s business model focuses on generating stable cash flows from toll collections and highway operation and maintenance activities, with income distributed to unitholders in accordance with InvIT regulations. The Trust raises capital from investors through listed units and deploys the proceeds into infrastructure assets via its project SPV. Backed by NHAI and operating in the strategic road infrastructure sector, the Trust benefits from government sponsorship, long-term concession assets, and predictable traffic-linked revenue streams, positioning it as a platform for infrastructure investment and yield-oriented returns. 


Issue size

Funds Raised in the IPO Amount
Total issue size 6000
Fresh Issue – Proceeds go to the company 6000

Utilisation of proceeds

Purpose INR crores (%)
Infusion of debt and equity into Project SPV to pay concession value to NHAI 5850 (97.50%)
General purposes 150 (2.50%)

Strengths

  • Backed by NHAI, providing strong government sponsorship and credibility.
  • Portfolio of five operational toll road assets across multiple states in India.
  • Exclusive rights to collect tolls under concession agreements, supporting stable revenue.
  • Managed by an experienced investment manager with expertise in road infrastructure.
  • Exposure to key national highway corridors with strong traffic demand potential.

Risks

  • Newly established trust with no operating history or long-term financial track record.
  • Revenue depends heavily on toll traffic volumes and regional economic activity.
  • Governmental regulatory or policy changes may impact operations.
  • Infrastructure projects may face environmental, social, or land-related challenges.
  • Business depends on government approvals and the infrastructure monetisation framework.