JSA acts on Raajmarg Infrastructure InvIT ₹6,000 crore IPO

Raajmarg Infrastructure Investment Trust has made an Initial Public Offering of units aggregating to ₹6,000 crore.

JSA Advocates & Solicitors advised Raajmarg InvIT, their sponsor National Highway Authority of India, and Raajmarg Infra Investment Managers Private Limited on this IPO. The Firm also advised on the setting-up of the InvIT and the Investment Manager.

The transaction team was led by Arka Mookerjee (Partner), with support from Pracheta Bhattacharya (Partner), Sourav Modi (Principal Associate), Associates Jeebitesh Bhattacharya, Bhavna Sancheti, Ayushi Pandit, Aditya Shendye, Palak Karundia, Bhuvnesh Kumar and Sharad Panwar.

As part of the deal, the InvIT will acquire concessioning rights of 5 road assets from NHAI, through a combination of equity and debt.

This is the largest IPO by a road sector InvIT and the second InvIT sponsored by NHAI. This is also the fastest listing by an InvIT, from the date of receipt of registration from SEBI, as an infrastructure investment trust and the highest subscribed InvIT IPO.

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