NHAI plans to raise over ₹10,000 cr via InvIT, TOT

The National Highways Authority of India (NHAI) plans to raise at least ₹10,000 crore this calendar year by monetizing its assets, said two people aware of the plans.

For the NHAI, successful sales of tolling rights on highway assets will be key towards funding its ambitious Bharatmala Pariyojana programme, which has pushed the state-run agency deep into debt.

“The NHAI plans to monetize about 1,200km of roads this calendar year. The first will be the InvIT (infrastructure investment trust), which it is ready to launch in the coming months. I believe the first tranche will be about 600km and depending on how successful that is, they can bring in more assets later,” one of the two people said. “The second will be 3-4 bundles under the toll-operate-transfer (TOT) route of about 150km each. NHAI will make these bundles smaller than in previous rounds to suit investors.”