NHAI backed InvIT gets SEBI nod

Key Highlights

• Ltd.
• (RIIMPL) as the Investment Manager for the Raajmarg Infra Investment Trust (RIIT).
• RIIMPL has been established as a collaborative venture with equity participation from leading banks and financial institutions, including State Bank of India, Punjab National Bank, NaBFID, Axis Bank, Bajaj Finserv Ventures Ltd, HDFC Bank, ICICI Bank, IDBI Bank, IndusInd Bank, and Yes Bank.
• Member (Finance), NHAI, NRVVMK Rajendra Kumar will be the Managing Director and CEO (Additional Charge) of the Investment Manager company.
• The NHAI relies on several sources of funding for development of national highways other than the budgetary allocation, which include includ Toll Operate Transfer, InvIT and securitisation.