Canadian funds CPPIB, OTPP buy 50% units in NHAI InvIT

Two international pension funds, namely Canada Pension Plan Investment Board and Ontario Teachers’ Pension Plan Board, as anchor investors, will hold 25% of the units each in the recently launched Infrastructure Investment Trust (NHAI InvIT) of NHAI. The balance units were placed with a diversified set of domestic institutional investors comprising pension funds, insurance companies, mutual funds, banks and financial institutions, said a press statement from NHAI.

The InvIT will initially have a portfolio of five operating toll roads with an aggregate length of 390 kilometers, with more roads planned to be added later. These roads are located across the states of Gujarat, Karnataka, Rajasthan and Telangana. NHAI has granted new concessions of 30-years for these roads.