Raajmarg Infra Investment Trust (“Trust”) is registered with SEBI under the Infrastructure Investment Trust (InvIT) Regulations on December 22, 2025. The Trust has been established to acquire, operate and maintain operational road infrastructure assets in India.
The Trust is sponsored by the National Highways Authority of India (NHAI) under the Ministry of Road Transport and Highways, Government of India.
Its toll road portfolio consists of five operational highway stretches:
- Gorhar – Barwa Adda
- Chilakaluripet – Vijayawada
- Chennai Bypass
- Chennai – Tada
- Nelamangala – Tumkur
These assets have been developed under NHAI’s Toll-Operate-Transfer (TOT) model and are located across Jharkhand, Andhra Pradesh, Tamil Nadu, and Karnataka. Together, the portfolio spans approximately 260.198 km and forms part of the Golden Quadrilateral highway network, one of India’s key national highway corridors.
The road assets are operated and maintained under concession agreements with NHAI. Through its Project SPV, the Trust holds the exclusive rights to operate, manage, maintain and collect toll user fees on these stretches from the appointed date, subject to the terms of the respective concession agreements.
Raajmarg InvIT IPO – Details
| IPO Opening Date | 11 March 2026 |
| IPO Closing Date | 13 March 2026 |
| Issue Type | Bookbuilding InvIT |
| Issue Size | Total Issue Size: 60,00,00,000 Shares Worth ₹6,000 Crore |
| IPO Price | ₹99 – ₹100 per share |
| Market Lot | 150 Shares |
| Min Order | 150 Shares [ 1 Lot ] |
| Listing At | BSE, NSE |
| Register | Kfin Technologies Ltd. |
| QIB Shares Offered | 75% |
| NII (HNI) Shares Offered | 25% |
Raajmarg InvIT IPO – Date Schedule
| IPO Open Date | 11 March 2026 |
| IPO Close Date | 13 March 2026 |
| Basis of Allotment | 18 March 2026 |
| Initiation of Refund | 20 March 2026 |
| Credit of Shares to Demat Account | 23 March 2026 |
| IPO Listing Date | 24 March 2026 |
| Cut-off time for UPI mandate confirmation | 5 PM on March 13, 2026 |
Competitive Strength
- Attractive industry sector with strong underlying fundamentals and favourable government policies.
- Experienced Sponsor with consistent track record in operating and maintaining projects in the roads and highways sector in India.
- Sizeable portfolio of diversified long-term revenue generating Toll Road assets.
- Portfolio of strategically located assets catering to key economic corridors of the country.
- Significant growth visibility through a defined pipeline of future assets.
- Concession Agreement terms with low counterparty risk.
- Experienced management team with industry experience.
- Long-term transitional support from NHAI, ensuring operational continuity.
Object Of The Issue
| Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|
| Infusion of debt and equity into the Project SPV, which shall be utilized by the Project SPV for the payment of concession value of the InvIT Assets to NHAI. | ₹5,850.00 |
| General purposes. |
✅Strengths
- Strong sponsor – NHAI.
- 5 operational toll road assets.
- Assets on key national highway corridors.
- Long-term concession agreements.
- Stable toll-based cash flow.
⚠️Risks
- Revenue depends on traffic volume.
- Changes in government toll policy.
- Limited asset portfolio (5 roads).
- Maintenance & operational cost risk.
- Traffic diversion from alternate routes.
Raajmarg InvIT IPO Prospectus
- Raajmarg InvIT IPO DRHP
- Raajmarg InvIT IPO RHP
Company Contact Information
| Raajmarg Infra Investment Trust G – 5 & 6, Sector 10 Dwarka, New Delhi, 110075 Phone: 2507 4100-1524 Email: compliance@riimpl.in Website: https://www.raajmarginfratrust.in/ |
Raajmarg InvIT IPO Registrar
| Kfin Technologies Ltd. Phone: 04067162222, 04079611000 Email: riimpl.invit@kfintech.com Website: https://ipostatus.kfintech.com/ |
Raajmarg InvIT IPO Lead Manager(s)
| 1. SBI Capital Markets Ltd. 2. Axis Capital Ltd. 3. ICICI Securities Ltd. 4. Motilal Oswal Investment Advisors Ltd. |
Raajmarg InvIT IPO FAQs
| What is the Raajmarg InvIT IPO? Raajmarg InvIT IPO is a main-board InvIT IPO. The issue is priced at ₹99 to ₹100 per equity share. The IPO is to be listed on the BSE & NSE. |
| When will the Raajmarg InvIT IPO open? The IPO is to open on 11 March 2026 for QIB and NII Investors. |
| What is Raajmarg InvIT IPO Investors Portion? The investors’ portion for QIB – 75% and NII – 25%. |
| What is the Raajmarg InvIT IPO Size? Raajmarg InvIT IPO size is ₹6,000 Crore. |
| What is the Raajmarg InvIT IPO Allotment Date? Raajmarg InvIT IPO allotment date is 18 March 2026. |
| What is the Raajmarg InvIT IPO Listing Date? Raajmarg InvIT IPO listing date is 24 March 2026. The IPO is to be listed on the BSE and the NSE. |
