Raajmarg Infra Investment Trust IPO Day 2: Subscription Status, GMP, Price Band and Key Details

Raajmarg Infra Investment Trust IPO Update

Key Highlights

• The initial public offering (IPO) of Raajmarg Infra Investment Trust, backed by National Highways Authority of India (NHAI), entered its second day of bidding on Thursday, March 12.
• The IPO was booked 16% at the end of the first day.

Offer Details

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• The ₹6,000-crore IPO will close for bidding on Friday, March 13.
• The offer consists of a fresh share sale of 60 crore shares at a price band of ₹99 to ₹100 per share.
• The funds raised from the IPO will be used for the infusion of debt and equity into the project SPV, which will be utilized for the payment of concession value of the InvIT Assets to NHAI.

Anchor Investor Allocation

• Prior to the public offering, the InvIT had raised ₹1,728 crore from anchor investors, including Life Insurance Corporation of India, ICICI Prudential Life Insurance, Kotak Mahindra Life Insurance, and Bajaj Allianz Life Insurance.

Listing and Allotment

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• The basis of allotment for the IPO is expected to be finalized on Monday, March 18, and the listing is expected on March 24.
• Shares of Raajmarg Infra Investment Trust will list on both BSE and NSE.

Subscription Breakdown

• The category reserved for institutional investors was booked 20%, while the portion for other investors was subscribed 11%.
• 75% of the shares have been allocated to qualified institutional buyers (QIBs), and 25% to non-institutional investors (NII).

Grey Market Premium

• The grey market premium (GMP) for the IPO was nil, indicating that shares are trading at par with the offer price.

About the InvIT

• Raajmarg Infra Investment Trust is a registered infrastructure investment trust with the SEBI under the InvIT Regulations on December 22, 2025.
• The InvIT will initially hold a portfolio of five toll road assets spanning over 260 km across Jharkhand, Andhra Pradesh, Tamil Nadu, and Karnataka.