NHAI InvIT announces its first distribution: Details here

NHAI’s Infrastructure Investment Trust (NHAI InvIT) has released its financial results for the fiscal year ending March 31, 2022. Following the same, NHAI InvIT has announced a payout of Rs.0.79 paisa per unit to its unitholders for this month. NHAI InvIT had issued a total of 59.52 crore units, resulting in a distribution of Rs. 47.02 crore to investors. This being the maiden distribution of the investment trust, is expected to reinforce the confidence of the investors as it reaches a historic milestone on its path to becoming a major vehicle to assist NHAI's monetization ambitions.

Formally launched in October 2021 by the NHAI as a mode to monetize operating roads, InvIT went on to attract two foreign pension funds namely Canada Pension Plan Investment Board and Ontario Teachers’ Pension Plan Board as anchor investors in its inaugural offering. The balance units went on to be acquired by a diverse group of domestic institutional investors, including pension funds, insurance companies, mutual funds, banks, and financial organizations. As part of its ongoing monetization initiative, NHAI has handed NHAI InvIT three new motorways totaling 247 kilometers.

In November of the same year, NHAI InvIT’s units went on to be listed on the National Stock Exchange and BSE Limited at Rs.101 per unit, with an Enterprise Value of Rs.8,012 crore. Since then, while the number of unique investors has increased from 27 to over 80, the number of domestic PF Trusts also increased from 5 to 27, owning up to 5.1% of the units in total. Additionally, individual (noninstitutional) investors also currently make up 2.7% of all investors, up from near nil when the company was first listed.

Alka Upadhyaya, NHAI Chairperson, complimented NHAI InvIT on its accomplishment. “With the success of NHAI InvIT, NHAI has continued to deliver on its commitments under the National Monetisation Pipeline and has demonstrated its strong ability to meet the expectations of marquee institutional investors who have reposed faith in NHAI InvIT. We thank all the investors and stakeholders, who have contributed to the success of NHAI InvIT. This will go a long way in realizing the vision of developing world-class and sustainable National Highway infrastructure in the country” she added.

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