India: NHAI launches InVIT, gets CPPIB and Ontario Teachers’ as anchor investors

India: NHAI launches InVIT, gets CPPIB and Ontario Teachers’ as anchor investors

Photo: Reuters

The National Highways Authority of India (NHAI) has launched its infrastructure investment trust (InVIT), part of the government’s national monetization pipeline, which will initially have a portfolio of five operating toll roads with an aggregate length of 390 kilometers, and an enterprise value of ₹8,011.52 crore, the Ministry of Road Transport & Highways (MoRTH) said in a statement on Wednesday.

The ministry said that NHAI InvIT attracted two international pension funds, Canada Pension Plan Investment Board and Ontario Teachers’ Pension Plan Board, as anchor investors, who will hold 25% of the units each.

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