National Highways Infra Trust, a privately listed infrastructure investment trust, sponsored by National Highways Authority of India (NHAI), has raised ₹6,591 crore from it's fifth round of fund raising by way of institutional placement of units to eligible investors for an amount aggregating to ₹2,468.808 crore, a preferential issue of units for an amount aggregating to ₹617.202 crore, and external borrowing.
JSA Advocates & Solicitors advised NHIT on this fundraise.
The Capital Markets team was led by Arka Mookerjee (Partner), with support from Pracheta Bhattacharya (Partner), Sourav Modi (Partner), Jeebitesh Bhattacharya (Senior Associate) and Bhavna Sancheti (Senior Associate).
The Finance team was led by Soumitra Majumdar (Partner), with support from Aradhana Dey (Principal Associate), Deboshree Mukherjee (Principal Associate) and Tanay Bothra (Associate).
Cyril Amarchand Mangaldas advised lead managers SBI Capital Markets Limited, Axis Capital Limited, ICICI Securities Limited, IIFL Capital Services Limited, Nuvama Wealth Management Limited, A.K. Capital Services Limited, Tipsons Consultancy Services Private Limited and Trust Investment Advisors Private Limited in relation to this transaction, on this transaction.
The transaction team was led by Yash J Ashar (Senior Partner) and Kranti Mohan (Partner, Head - REIT and InvITs), with support from Sarvpriya Mishra (Principal Associate), Saksham Khokhar (Senior Associate), Associates Arjun Nair, Parikha Rathi, and Nilay Raj.
The transaction facilitates progress of NHIT in making major contribution to support the National Monetisation Pipeline. As part of the transaction, the InvIT has acquired concession rights over two road assets with a total length of approximately 310.359 kilometres.
The fund raise is in furtherance of NHAI’s ongoing disinvestment and asset monetisation strategy.
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