Raajmarg Infra InvIT
Table of Contents
- 01 IPO Description
- 02 IPO Parameters
- 03 IPO Roadmap
- 04 GMP History
- 05Raajmarg Infra InvIT IPO Market Lot
- 06 Raajmarg Infra InvIT IPO Details
- 07 IPO Reservation
- 08 Raajmarg Infra InvIT IPO Anchor Investors
- 09 Raajmarg Infra InvIT IPO Dates
- 10 Promoters and Holding Pattern
- 11 Objects of the Issue & Utilisation of Proceeds
- 12 About Raajmarg Infra InvIT IPO
- 13 Raajmarg Infra InvIT IPO Company Financial Report
- 14 Raajmarg Infra InvIT IPO Valuation – FY2025
- 15 Peer Group Comparison
- 16 IPO Lead Managers aka Merchant Bankers
IPO DESCRIPTION
Raajmarg Infra Investment Trust (InvIT) IPO is a ₹6,000 crore infrastructure investment trust issue backed by the National Highways Authority of India (NHAI). The IPO opened for subscription from 11 March to 13 March 2026 with a price band of ₹99–₹100 per unit and a minimum lot size of 150 units (around ₹15,000 investment). The trust invests in operational national highway projects across India, generating revenue mainly from toll and infrastructure assets. Funds raised from the IPO will support highway asset monetization and infrastructure development, while offering investors potential stable income through infrastructure cash flows.
IPO PARAMETERS
IPO ROADMAP
Grey Market Premium HISTORY
| Date | GMP (₹) | Daily Change | Gain (%) |
|---|---|---|---|
| 24 Mar 2026 | ₹1.50 | -₹1.75 | 1.50% |
| 20 Mar 2026 | ₹3.25 | - | 3.25% |
| 18 Mar 2026 | ₹3.25 | - | 3.25% |
| 17 Mar 2026 | ₹3.25 | -₹0.75 | 3.25% |
| 16 Mar 2026 | ₹4.00 | +₹4.00 | 4.00% |
| 12 Mar 2026 | ₹0.00 | - | 0.00% |
Raajmarg Infra InvIT IPO MARKET LOT
| Application | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 | 150 | ₹15,000 |
| Retail Maximum | 13 | 1,950 | ₹195,000 |
| S-HNI Minimum | 14 | 2,100 | ₹210,000 |
| S-HNI Maximum | 66 | 9,900 | ₹990,000 |
| B-HNI Minimum | 67 | 10,050 | ₹1,005,000 |
Raajmarg Infra InvIT IPO DETAILS
| IPO Open Date | March 11, 2026 |
|---|---|
| IPO Close Date | March 13, 2026 |
| Face Value | ₹10 Per Equity Share |
| IPO Price Band | ₹99 to ₹100 Per Share |
| Issue Size | Approx ₹6,000 Crores |
| Fresh Issue | Approx ₹6,000 Crores |
| Issue Type | Book Build Issue |
| IPO Listing | BSE, NSE |
IPO RESERVATION
| Investor Category | Shares Offered | Shares (%) |
|---|---|---|
| Anchor Investor | 17,28,00,000 Shares | 33.74% |
| QIB (Ex. Anchor) | 11,63,63,400 Shares | 22.72% |
| NII Shares Offered | 9,69,69,750 Shares | 18.93% |
| Retail Shares Offered | – Shares | – % |
| Strategic Investor Shares Offered | 12,60,00,000 Shares | 24.60% |
Raajmarg Infra InvIT IPO Anchor INVESTORS
| Anchor Bidding Date | March 10, 2026 |
|---|---|
| Anchor Investors List | — |
| Shares Offered | 17,28,00,000 Shares |
| Anchor Size | ₹1,728.00 Cr. |
| Lock‑in Period End Date (50% Shares – 30 Days) | April 17, 2026 |
Raajmarg Infra InvIT IPO DATES
| IPO Open Date | March 11, 2026 |
|---|---|
| IPO Close Date | March 13, 2026 |
| Basis of Allotment | March 18, 2026 |
| Refunds | March 20, 2026 |
| Credit to Demat Account | March 20, 2026 |
| IPO Listing Date | March 24, 2026 |
| IPO Bidding Cut‑off Time | March 13, 2026 – 5 PM |
Promoters and Holding PATTERN
Promoter information for this InvIT issue is Not Available (NA).
| Particular | Shares | % Share |
|---|---|---|
| Promoter Holding Pre Issue | – | –% |
| Promoter Holding Post Issue | – | –% |
Objects of the Issue & Utilisation of PROCEEDS
| Purpose | Amount (₹ Crores) |
|---|---|
| Not Available | ₹— |
| Not Available | ₹— |
| Not Available | ₹— |
About Raajmarg Infra InvIT IPO
Raajmarg Infra Investment Trust is a SEBI-registered trust built to purchase, manage, and maintain working road infrastructure projects in India. The Raajmarg fund is sponsored by the National Highways Authority of India (NHAI), an independent authority under the Ministry of Road Transport and Highways, Government of India.
The company’s toll road portfolio includes the Gorhar–Barwa Adda, Chilakaluripet–Vijayawada, Chennai Bypass, Chennai–Tada, and Nelamangala–Tumkur highway stretches. The trust is managed by a team of qualified professionals who have 20 years of experience in the road and highways sector. Moreover, the trust is also planning to start five operational toll road projects situated in Jharkhand, Andhra Pradesh, Tamil Nadu, and Karnataka, spanning a length of about 260 km.
Raajmarg Infra InvIT IPO Company Financial REPORT
| Period Ended | Revenue (₹ Cr.) | Expense (₹ Cr.) | PAT (₹ Cr.) | Assets (₹ Cr.) |
|---|---|---|---|---|
| 2023 | ₹— | ₹— | ₹— | ₹— |
| 2024 | ₹— | ₹— | ₹— | ₹— |
| 2025 | ₹— | ₹— | ₹— | ₹— |
Raajmarg Infra InvIT IPO Valuation – FY2025
| KPI | Values |
|---|---|
| ROE | -% |
| ROCE | -% |
| EBITDA Margin | -% |
| PAT Margin | -% |
| Debt to Equity Ratio | — |
| Earning Per Share (EPS) | ₹- (Basic) |
| Price/Earning P/E Ratio | N/A |
| Return on Net Worth (RoNW) | -% |
| Net Asset Value (NAV) | ₹- |
Peer Group COMPARISON
| Company | EPS | P/E Ratio | RoNW % | NAV | Income |
|---|---|---|---|---|---|
| Cube Highways Trust | — | — | —% | 142.70 | — Cr. |
| Vertis Infrastructure Trust | — | — | —% | 103.35 | — Cr. |
| Interise Trust | — | — | —% | 104.18 | — Cr. |
| National Highways Infra Trust | — | — | —% | 145.80 | — Cr. |
| IRB Invit Fund | — | — | —% | 79.50 | — Cr. |
IPO Lead Managers aka Merchant BANKERS
- SBI Capital Markets Ltd.
- Axis Capital Ltd.
- ICICI Securities Ltd.
- Motilal Oswal Investment Advisors Ltd.