Raajmarg Infra InvIT IPO 2026: Date, Price Band, GMP and Allotment

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Raajmarg Infra Investment Trust IPO
RM
Raajmarg Infra Investment Trust IPO
Toll Road InvIT · NHAI Sponsored · TOT Model · Golden Quadrilateral · ~260 km
📋 InvIT IPO Fresh Issue Only NHAI Sponsored BSE & NSE
₹100
Issue Price
₹6,000 Cr
Issue Size
Mar 24, 2026
Listing Date
To Be Declared
Market Cap (Pre-IPO)
📅 IPO Timetable
All dates tentative
🔓
IPO Opens
Wednesday, 11 March 2026
Bidding starts — apply before close
🔒
IPO Closes
Friday, 13 March 2026
Last day to bid — closes at 5:00 PM IST
📊
Basis of Allotment
Wednesday, 18 March 2026
Allotment finalised by registrar
🔄
Refund & Share Credit
Friday, 20 March 2026
Unallotted funds returned; units credited to demat on 23 Mar
🏷️
Listing on BSE & NSE
Tuesday, 24 March 2026
Trading begins from 10:00 AM IST
📋 IPO Details
IPO Open Date11 March 2026 (Wed)
IPO Close Date13 March 2026 (Fri)
Listing Date24 March 2026 (Tue)
Issue TypeBookbuilding InvIT
Price Band₹99 to ₹100
Issue Price (Upper Band)₹100 per unit
Sale TypeFresh Issue Only
Total Issue Size60,00,00,000 units (₹6,000 Cr)
Offer for Sale (OFS)N/A — Fresh Issue Only
Market Maker ReservationN/A — Mainboard InvIT
SponsorNHAI (Govt. of India)
SEBI Registration22 December 2025
Portfolio Length~260.198 km (5 toll assets)
ModelToll Operate Transfer (TOT)
Market Cap (Pre-IPO)To Be Declared
Listing ExchangeBSE & NSE
Lead ManagersSBI Capital, Axis, ICICI Sec, Motilal
RegistrarKFin Technologies Ltd.
StatesJharkhand, AP, Tamil Nadu, Karnataka
Allotment Date18 March 2026 (Wed)
💰 Lot Size & Minimum Investment
At issue price ₹100
Investor CategoryLotsUnitsAmount
QIB — MinimumAs per RHPAs per RHPAs per RHP
NII — MinimumAs per RHPAs per RHPAs per RHP
⚠️ InvIT Note: Raajmarg Infra Investment Trust is an InvIT, not a regular equity IPO. It has no retail investor category. Only QIBs and NIIs may participate. Exact lot size and minimum investment will be updated once the RHP is officially filed.
👥 Investor Reservation
SEBI InvIT Regulations
≤75%
QIB
Not more than 75%
of Net Issue
≥25%
NII / HNI
Not less than 25%
of Net Issue
N/A
Retail (RII)
No retail category
in InvIT issues
N/A
Market Maker
Not applicable
Mainboard InvIT
💡 InvIT Note: Unlike regular equity IPOs, InvITs under SEBI regulations have no separate retail investor (RII) category. Individual investors may participate under the NII category if their total bid exceeds ₹10 lakhs.
📈 Company Financials
InvIT · No Operating History
📌
No Operating Financial Track Record
Raajmarg Infra Investment Trust was registered with SEBI on December 22, 2025 and has not yet commenced normal operations. Historical restated financials are not available. As an infrastructure trust in the pre-operational stage, financial data will be updated post-listing as operational results become available from toll road collections.
🎯 Key Performance Indicators
N/A
ROE
No History
N/A
ROCE
No History
N/A
PAT Margin
No History
N/A
EBITDA Margin
No History
N/A
ROE (Latest)
No History
N/A
ROCE (Latest)
No History
~260 km
Road Portfolio
5 toll assets
₹5,850 Cr
To Project SPV
Concession Payment
⚖️ Valuation & EPS
Pre-IPO EPS
N/A
No operating history
P/E: N/A
Post-IPO EPS
N/A
No operating history
P/E: N/A
Price to Book Value
N/A
To be declared
Market Cap (Pre-IPO)
To Be Declared
At issue price ₹100
ℹ️ As an InvIT registered in December 2025 with no prior operating history, standard EPS and P/E valuation metrics are not applicable. The investment case is based on projected toll revenue from 5 operational road assets under NHAI concession agreements spanning ~260 km.
🎯 Objects of the Issue
Net proceeds utilisation
1
Infusion of debt and equity into the Project SPV for payment of concession value of the InvIT Assets to NHAI
₹5,850 Cr
2
General corporate purposes (balance of net proceeds)
Balance
Total (item 1) ₹5,850 Cr
🏢 About Raajmarg Infra Investment Trust
SEBI Registered Dec 2025 · NHAI Sponsored

Raajmarg Infra Investment Trust is a SEBI-registered Infrastructure Investment Trust (InvIT), registered on December 22, 2025. It has been established to acquire, operate, and maintain operational road infrastructure assets in India, sponsored by the National Highways Authority of India (NHAI) under the Ministry of Road Transport and Highways, Government of India.

Its portfolio comprises five operational toll road assets developed under NHAI’s Toll Operate Transfer (TOT) model, spanning approximately 260.198 km across Jharkhand, Andhra Pradesh, Tamil Nadu, and Karnataka — forming part of the Golden Quadrilateral network. The Project SPV holds exclusive rights to collect toll fees under concession agreements with NHAI: (1) Gorhar–Barwa Adda (Jharkhand), (2) Chilakaluripet–Vijayawada (AP), (3) Chennai Bypass (TN), (4) Chennai–Tada (TN/AP), (5) Nelamangala–Tumkur (Karnataka).

Competitive Strengths
🏛️Attractive infrastructure sector with strong government policy support and long-term tailwinds
🏆Experienced NHAI sponsor with consistent track record in operating India’s highway network
🗺️Diversified long-term revenue generating toll road assets across 4 states, ~260 km
📍Strategically located assets on key economic corridors — Golden Quadrilateral network
📈Significant growth visibility through a defined pipeline of future NHAI TOT assets
🤝Concession agreements with NHAI ensure low counterparty risk and stable toll cash flows
⚙️Experienced management team with deep industry experience in roads and highways
Sponsor
NHAI
National Highways Authority of India (NHAI)
Ministry of Road Transport & Highways · Government of India
📅 Key Dates
IPO Opens11 Mar 2026
IPO Closes13 Mar 2026
Allotment18 Mar 2026
Refund20 Mar 2026
Unit Credit23 Mar 2026
Listing Day24 Mar 2026
💡 Quick Summary
Price Band₹99 – ₹100
Issue Price₹100 / unit
Issue Size₹6,000 Cr (Fresh Only)
OFSN/A
SponsorNHAI (Govt. of India)
Portfolio5 toll roads, ~260 km
Issue TypeInvIT — Bookbuilding
ListingBSE & NSE
🏦 Registrar & Lead Managers
Registrar
KFin Technologies Ltd.
📞 04067162222 / 04079611000
riimpl.invit@kfintech.com
Lead Managers
SBI Capital Markets Ltd.
Axis Capital Ltd.
ICICI Securities Ltd.
Motilal Oswal Investment Advisors Ltd.
📍 Company Address
Raajmarg Infra Investment Management Pvt. Ltd.
G-5 & 6, Sector 10, Dwarka,
New Delhi – 110075
📞 2507 4100-1524
compliance@riimpl.in
🛡️ Regulatory Note: InvIT investments are subject to SEBI (Infrastructure Investment Trusts) Regulations, 2014. Always read the offer document before investing. Consult a SEBI-registered advisor before investing.
⚠️ Disclaimer: This page presents publicly available information from the Raajmarg Infra Investment Trust offer documents for informational purposes only. It does not constitute investment advice. InvIT investments are subject to market risk and may have longer gestation periods. Please read all offer documents and consult a SEBI-registered advisor before investing.
📊
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