Raajmarg Infra InvIT: Sebi’s In-Principle Nod for Highway Trust
Why in the news
Sebi cleared RIIT in principle; the trust will monetise National Highway assets, chiefly for retail and domestic investors.
About InvITs
A trust letting people earn from income-producing infrastructure (highways, ports, power plants) without owning it directly. Public InvITs admit retail investors; private ones admit only qualified institutional buyers (QIBs).
Sebi criteria
| Point | Public | Private |
|---|---|---|
| Completed, revenue-earning assets | 80% or more | Same |
| Minimum assets | ₹500 crore | ₹250 crore |
| Investors | 1,000 or more | QIBs only |
| Listing | Within 12 months | Not needed |
| Payout | 90% of cash flow, half-yearly | Same |
| Debt cap | 49% of assets | Same |
Exam angle
- Regulator: Sebi.