NHAI sets to launch its ₹5,000-cr first InvIT

The National Highways Authority of India is all set to launch its maiden Infrastructure Investment Trust (InvIT). Chairman of NHAI, Sukhbir Singh Sandhu, informed that the first tranche of the company's InvIT worth ₹5,000 crore was to be launched on April 1, which was postponed due to the outbreak of the second wave of Covid-19 and now the nodal agency is looking to fast-track the launch of its InvIT as restrictions surrounding construction activities in the country are much lower this time around, compared to the national lockdown last year. Now, most of the uncertainties surrounding restrictions in the construction sector are addressed and the company is looking to go forward with the InvIT on fast tacked basis. The company has received approvals from the Securities and Exchange Board of India (SEBI) for the draft prospectus submitted by the National Highways Infra Investment Managers. The National Highways Infra Investment Managers is the investment manager for the InvIT. NHAI's decision to fast-track the launch of InvIT comes just a few days after Power Grid Corp of India raised ₹2,736 crore through the sale of 27.41 crore units in PowerGrid Infrastructure Investment Trust. NHAI has also decided to keep its InvIT IPO open only for institutional investors as per the draft papers filed with SEBI.