NHAI’s first InvIT sails through, 2 Canadian pension funds put their investment

NEW DELHI: The maiden infrastructure investment trust (InvIT) by the National Highways Authority of India (NHAI) sailed through by raising Rs 6,000 crore with the participation from two Canadian pension funds, LIC and domestic banks. The two Canadian pension funds — Canada Pension Plan Investment Board and Ontario Teachers’ Pension Plan Board — have invested around Rs 3,000 crore, sources said.
This is the second such InvIT sponsored by a public sector organisation. In April, power transmission utility PGCIL sponsored PGlnvlT to raise about Rs 3,800 crore. InvIT is a business trust (like REIT), registered with the market regulator, which owns, operates, and manages operational infrastructure assets. These long-term revenue-generating infrastructure assets generate cash flows and then this is distributed to the unit holders periodically.