Highways authority could use the investment vehicle to mobilise funds.
According to Finance minister Arun Jaitley who said in his budget speech that the highways authority could use the investment vehicle to mobilize funds.
“To raise equity from the market for its mature road assets, NHAI will consider organising its road assets into special purpose vehicles and use innovative monetising structures like toll, operate and transfer (ToT) and Infrastructure Investment Funds . Jaitley had said.
The government had first announced asset recycling in 2016 to free up funds locked in idle assets.
Separately, it has pegged disinvestment at Rs 80,000 crore for FY19, following on from a record year for asset sales.
Disinvestment proceeds are targeted to exceed Rs 1 lakh crore in Fy18.
However, money raised through InvITs (Infrastructure Investment Funds) will go to the asset holder The Securities and Exchange Board of India (Sebi) has sought to make InvITs more attractive last year by allowing strategic investors such as registered non-banking finance companies (NBFCs) and international multilateral financial institutions to invest up to 25% of the total offer size of such trusts.
IRB Infrastructure last year raised Rs 5,000 crore through its IRB InvIT Fund that pooled the developer's road assets.
The trust owns, operates and maintains six toll roads in Maharashtra, Gujarat, Rajasthan, Karnataka and Tamil Nadu. IndiGrid, established by Sterlite Power Grid Ventures Ltd, owns inter-state transmission assets
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01-2026
