Private Equity

PE Fund Investments

CPPIB, OTPP invest addl Rs.1,820 Cr each in NHAI’s InvIT

Business Standard  

Existing Canada-based investors, Canada Pension Plan Investment Board (CPPIB) and Ontario Teachers’ Pension Plan Board (OTPP), have subscribed to additional new units (up to the maximum limit of 25% each) in National Highways Infra Trust (NHIT), the infrastructure Investment Trust (InvIT) of the Central Government owned National Highways Authority of India (NHAI).The two funds invested INR 1,820 crore each in the latest fundraise by NHIT that has raised (in its third round of asset monetisation) unit capital of around INR 7,272 crore at a cut-off price of INR 124.14 per unit. It has additionally raised debt of around INR 9,000 crore from Indian lenders.The monetised sections in the latest round include Chichira-Kharagpur, Orai-Bara, Rewa-Katni-Jabalpur-Lakhnadon, Kachugaon to Rakhaldubi Bus Junction and Rakhaldubi Bus Junction to Kaljhar, Kaljhar to Patacharkuchi, Lakhnadon to Mahagaon, Mahagaon to Khawasa, Hubli to Haveri, Davangere to Haveri, and Davangere to Chitradurga.