State-owned NHAI mandates for Rp50bn InvIT

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By Jonathan Breen
11 Jan 2021

The National Highways Authority of India has picked banks for the potential Rp50bn ($680.5m) IPO of an infrastructure investment trust, according to a source close to the deal.

The state-owned enterprise mandated ICICI Securities, Kotak Mahindra Capital and SBI Capital Markets to run the show, said the source.

Public listings by trusts such as InvITs and real estate investment trusts (Reits) are still a nascent market in India. A handful of successful private Reits floated in ...

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