In a statement, the Ministry of Road Transport & Highways said, this maiden distribution will reinforce the confidence that the investors have shown in NHAI InvIT, as it achieves a big milestone in its journey to emerge as a major vehicle to support NHAI’s monetisation efforts.
In FY22, NHAI InvIT announced a distribution of ₹0.79 paisa per unit to its unitholders.
The Project SPV, National Highways Infra Projects Private Limited (NHIPPL) had achieved the Appointed Date on December 16, 2021.
In November last year, the NHAI InvIT units were listed on BSE and NSE at ₹101 per unit with an Enterprise Valuation of ₹8,012 crore.
As per the ministry data, since its listing, the number of distinct investors has increased from 27 to around 80 currently. Also, the number of domestic PF Trusts has increased from 5 to 27, with an aggregate holding of 5.1% of the units. The share of individual (non-institutional) investors is currently at 2.7% from almost nil at the time of listing.
On the performance of NHAI InvIT, Alka Upadhyaya, Chairperson, NHAI, said, "With the success of NHAI InvIT, NHAI has continued to deliver on its commitments under the National Monetisation Pipeline and has demonstrated its strong ability to meet the expectations of marquee institutional investors who have reposed faith in NHAI InvIT. We thank all the investors and stakeholders, who have contributed to the success of NHAI InvIT. This will go a long way in realizing the vision of developing world-class and sustainable National Highway infrastructure in the country."
NHAI had launched its InvIT as a mode to monetise operational roads, as it has the largest share under the National Monetisation Pipeline.
In its first offering, NHAI InvIT had attracted two international pension funds, namely Canada Pension Plan Investment Board and Ontario Teachers’ Pension Plan Board, as anchor investors. The balance units were subscribed to by a diversified set of domestic institutional investors, comprising pension funds, insurance companies, mutual funds, banks, and financial institutions.
As part of its continuous monetisation strategy, NHAI has offered additional three roads of the aggregate length of 247 km to NHAI InvIT.
