National Highways Infra Trust (NHIT), an Infrastructure Investment Trust (InvIT) established by the National Highways Authority of India (NHAI), has successfully completed its fourth round of fundraising, marking the largest monetisation transaction in India’s road sector. This round’s enterprise value stands at approx. Rs 18,380 crore, bringing the total realised value across four rounds to over Rs 46,000 crore.

NHIT secured Rs 8,340 crore in unit capital from domestic and international investors, along with Rs 10,040 crore in debt from domestic lenders. The funds will be used to acquire key national highway stretches, including Anakapalle-Narsannapeta, Gundugolanu-Kovvuru, and Chittoor-Mallavaram (Andhra Pradesh); Bareilly-Sitapur and Muzaffarnagar-Haridwar (Uttar Pradesh/Uttarakhand); Gandhidham-Mundra (Gujarat); and Raipur-Bilaspur (Chhattisgarh). The total concession value of these highways is Rs 17,738 crore, including a Rs 97 crore premium.

Major investors included domestic pension and provident funds such as EPFO, L&T PF, and Rajasthan Rajya Vidyut Karamchari PF, as well as insurance companies, banks, financial institutions, and mutual funds. Foreign investors, including the Canada Pension Plan Investment Board and Ontario Teachers' Pension Plan Board, participated at their maximum limit.