The Raajmarg Infra Investment Trust InvIT IPO subscription window opened on Wednesday, March 11, and will close on Friday, March 13. Raajmarg Infra Investment Trust InvIT IPO price band has been set between ₹99 and ₹Rs.100 per unit.
In this public offering, 75% of the shares have been designated for qualified institutional buyers (QIB), while 25% have been reserved for non-institutional investors (NII).
Raajmarg Infrastructure Investment Trust (InvIT), which is the first public infrastructure investment trust supported by the National Highways Authority of India (NHAI), has garnered ₹1,728 crore from anchor investors ahead of the commencement of its ₹6,000-crore initial public offering (IPO) on Wednesday.
Raajmarg InvIT has assigned 17.28 crore units to anchor investors at a rate of ₹Rs 100 per unit, as indicated in an exchange filing last night. The anchor book featured a wide range of institutional investors, including pension funds, insurance companies, mutual funds, provident funds, and alternative investment funds.
Prominent investors included the Life Insurance Corporation of India (LIC), ICICI Prudential Life Insurance, Kotak Mahindra Life Insurance, Bajaj Life Insurance, Axis Max Life Insurance, and Aditya Birla Sun Life Insurance, all of whom made significant investments.
Tentatively, Raajmarg Infra Investment Trust InvIT IPO basis of allotment of shares will be finalized on Wednesday, March 18, and the company will initiate refunds on Friday, March 20, while the shares will be credited to the demat account of allottees on the same day following refund. Raajmarg Infra Investment Trust InvIT share price is likely to be listed on BSE and NSE on Tuesday, March 24.
Raajmarg Infra Investment Trust InvIT IPO GMP
Raajmarg Infra Investment Trust InvIT IPO GMP today is ₹0, which means shares are trading with no premium or discount in the gray market, according to investorgain.com.
Raajmarg Infra Investment Trust InvIT IPO subscription status
Raajmarg Infra Investment Trust InvIT IPO subscription status is 1.05x on day 3, so far. The NII portion has been booked 1.56x, Qualified Institutional Buyers (QIBs) portion received 62% bids.
The company has received bids for 22,30,37,100 shares against 21,33,33,150 shares on offer, at 11:29 IST, according to data on chittorgarh.com.
Raajmarg Infra Investment Trust InvIT IPO details
According to the Red Herring Prospectus (RHP), the total amount for Raajmarg Infra Investment Trust’s IPO is ₹6,000 crore, which is an increase from the initially suggested ₹5,700 crore mentioned in the draft documents submitted in January.
The NHAI previously established Raajmarg Infra Investment Managers Pvt. Ltd. (RIIMPL) to serve as the investment management entity for the Rajmarg Infra Investment Trust.
This public InvIT aims to capitalize on the monetization potential of National Highway assets while providing a high-quality, long-term investment option primarily tailored for retail and domestic investors.
RIIMPL is a collaborative initiative that includes equity contributions from leading banks and financial institutions such as SBI, Punjab National Bank, NaBFID, Axis Bank, Bajaj Finserv Ventures Ltd., HDFC Bank, ICICI Bank, IDBI Bank, IndusInd Bank, and Yes Bank.
Company details
Founded as an investment trust concentrating on infrastructure, Raajmarg Infra Investment Trust (“Trust”) has officially obtained registration with SEBI in compliance with the InvIT Regulations as of December 22, 2025. The Trust was established to acquire, oversee, and maintain operational road infrastructure assets across India.
Its portfolio of toll roads includes routes such as Gorhar to Barwa Adda, Chilakaluripet to Vijayawada, the Chennai Bypass, Chennai to Tada, and Nelamangala to Tumkur. The Trust is supported by the National Highways Authority of India (NHAI), which functions under the Ministry of Road Transport and Highways, Government of India.
The collection of toll roads consists of five active toll road projects created through the Toll Operate Transfer (TOT) model by the NHAI. These projects can be found in Jharkhand, Andhra Pradesh, Tamil Nadu, and Karnataka, covering around 260.198 km as part of the Golden Quadrilateral network.
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