Raajmarg Infra Investment Trust is launching a book-building InvIT public issue comprising a total issue of 60,00,00,000 units aggregating to Rs. 6,000.00 crore. The issue consists entirely of a fresh issue with no offer for sale component. The InvIT opens for subscription on Wednesday, March 11, 2026 and closes on Friday, March 13, 2026. The allotment is expected to be finalised on Wednesday, March 18, 2026, and the units are proposed to be listed on BSE and NSE with a tentative listing date of Tuesday, March 24, 2026.
Listing- Yet to be listed
Raajmarg Infra Investment Trust IPO
IPO Size: Rs. 6,000.00 crore
Business: Toll road infrastructure assets
Portfolio: Operational national highway stretches under NHAI TOT model
Key Risk: Traffic growth variability and toll revenue dependence
Chanakya View: Government-sponsored InvIT offering exposure to highway assets
đź•— Last Update: 5 March 2026, 6.00 AM
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IPO Details at a Glance
| Particulars | Details |
|---|---|
| IPO Opening Date | Wednesday, 11 Mar 2026 |
| IPO Closing Date | Friday, 13 Mar 2026 |
| Listing Date (Tentative) | Tuesday, 24 Mar 2026 |
| Face Value | Rs. 10 per unit |
| Price Band | Rs. 99 to Rs. 100 per unit |
| Lot Size | 150 Units |
| Issue Type | Book Building InvIT |
| Sale Type | Fresh Issue |
| Total Issue Size | 60,00,00,000 Units |
| Total Issue Amount | Rs. 6,000.00 crore |
| Fresh Issue | 60,00,00,000 Units |
| Offer for Sale | NA |
| Listing At | BSE, NSE |
| Employee Discount | NA |
| Unit Holding Pre Issue | To be declared |
| Unit Holding Post Issue | To be declared |
IPO Timetable (Tentative)
| Event | Date |
|---|---|
| IPO Opens | Wed, Mar 11, 2026 |
| IPO Closes | Fri, Mar 13, 2026 |
| Allotment | Wed, Mar 18, 2026 |
| Refunds | Fri, Mar 20, 2026 |
| Credit of Units | Mon, Mar 23, 2026 |
| Listing | Tue, Mar 24, 2026 |
Investor Reservation
| Category | Units Offered |
|---|---|
| QIB | Not more than 75.00% of Net Offer |
| NII | Not less than 25.00% of Net Offer |
IPO Lot Size & Investment Amount
| Category | Lots | Units | Amount (Rs.) |
|---|---|---|---|
| Retail (Min) | 1 | 150 | 15,000 |
| Retail (Max) | To be declared | To be declared | To be declared |
| S-HNI (Min) | To be declared | To be declared | To be declared |
| S-HNI (Max) | To be declared | To be declared | To be declared |
| B-HNI (Min) | To be declared | To be declared | To be declared |
What Does Raajmarg Infra Investment Trust Do?
Raajmarg Infra Investment Trust (RIIT) is an Infrastructure Investment Trust sponsored by the National Highways Authority of India (NHAI) under the Ministry of Road Transport and Highways. The InvIT has been created to acquire, operate and maintain operational highway assets in India and allow investors to participate in toll-generating road infrastructure projects.
The trust’s portfolio consists of five operational toll road assets developed under the Toll-Operate-Transfer (TOT) model. These highway stretches include Gorhar–Barwa Adda in Jharkhand, Chilakaluripet–Vijayawada in Andhra Pradesh, Chennai Bypass and Chennai–Tada in Tamil Nadu, and Nelamangala–Tumkur in Karnataka.
These assets together span about 260 kilometres and form part of key economic highway corridors within India’s national highway network. The projects operate under concession agreements that provide the SPV with the right to operate, maintain and collect toll revenue during the concession period.
Competitive Strengths
Government-sponsored InvIT backed by NHAI
Portfolio of operational toll road infrastructure assets
Exposure to strategic national highway corridors
Stable toll-based revenue generation model
Diversified assets across multiple states
Company Address
Raajmarg Infra Investment Trust
G-5 & 6
Sector 10
Dwarka
New Delhi – 110075
IPO Lead Manager(s)
SBI Capital Markets Ltd.
Axis Capital Ltd.
ICICI Securities Ltd.
Motilal Oswal Investment Advisors Ltd.
IPO Registrar
| Registrar | Contact |
|---|---|
| Kfin Technologies Ltd. | +91-40-6716 2222 |
Email | riimpl.invit@kfintech.com
Raajmarg Infra Investment Trust IPO – Review
Raajmarg Infra Investment Trust operates in the road infrastructure sector, providing investors exposure to operational toll-generating highway assets. Infrastructure Investment Trusts (InvITs) are designed to allow investors to participate in stable infrastructure assets that generate regular cash flows through toll collections and long-term concession agreements.
The InvIT is sponsored by the National Highways Authority of India, which adds institutional credibility and operational experience in highway development and asset management. The portfolio of toll roads across multiple states provides geographical diversification and exposure to key freight and economic corridors.
However, revenue visibility depends largely on traffic growth, toll revisions and economic activity affecting highway usage. Regulatory policies and concession agreements also influence long-term returns for InvIT investors.
Chanakya View
Neutral. Raajmarg Infra Investment Trust provides exposure to operational toll road assets backed by NHAI. Investors seeking infrastructure-linked yield products may track distribution visibility and valuation comfort before taking a view.
About Chanakya IPO Analysis
Chanakya provides independent IPO analysis combining fundamentals, grey market intelligence and technical insights for retail and long-term investors.
Disclaimer
This IPO coverage is for informational purposes only. Investors are advised to read the RHP/DRHP carefully and consult a SEBI-registered investment advisor before investing.
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