Description

NSE notifies listing of units of Raajmarg Infra Investment Trust (RIIT) on the Capital Market segment effective March 24, 2026, with trading symbol RIIT and issue price of Rs. 100 per unit.

Summary

NSE has notified the listing of units of Raajmarg Infra Investment Trust (InvIT IPO) on the Capital Market segment effective March 24, 2026. The trust, sponsored by the National Highways Authority of India (NHAI), will trade under the symbol RIIT (Series: IV) with an issue price of Rs. 100 per unit. A total of 600,000,000 units will be listed with a market lot of 1.

Key Points

  • Symbol: RIIT | Series: IV | ISIN: INE2PB023011
  • Issue Price: Rs. 100 per unit
  • Total Units Listed: 600,000,000 (60 crore units)
  • Market Lot: 1 unit
  • Pari Passu: Yes
  • Effective Date: March 24, 2026
  • Units will participate in a 60-minute pre-open session from 9:00 a.m. to 10:00 a.m. (45 min order entry, 10 min matching, 5 min buffer)
  • Sponsor: National Highways Authority of India (NHAI), New Delhi
  • Investment Manager: Raajmarg Infra Investment Managers Private Limited
  • Registrar: KFin Technologies Limited, Hyderabad

Regulatory Changes

No new regulatory changes introduced. Listing is in pursuance of Regulation 3.1.1 and Regulation 2.5.5 of the NSE Capital Market Trading Regulations Part A governing admission to dealings and lot sizes respectively.

Compliance Requirements

  • Members must identify the security only by its designated code (RIIT) for trading purposes
  • Trading must be conducted in the specified lot size of 1 unit
  • Members must adhere to pre-open session rules (9:00 a.m. to 10:00 a.m.) for this security
  • Lock-in restrictions must be observed as per Annexure I

Important Dates

  • Circular Date: March 23, 2026
  • Listing Effective Date: March 24, 2026
  • Lock-in Expiry Dates (per tranche):
    • 17,28,00,000 units: locked until April 16, 2026
    • 12,60,00,000 units: locked until September 19, 2026
    • 6,00,00,000 units: locked until March 23, 2029
    • 1,20,00,000 units: locked until March 23, 2031
    • 60,00,000 units: locked until March 23, 2036
    • 60,00,000 units: locked until March 23, 2046
    • 60,00,000 units: locked until March 23, 9999 (permanent lock-in)
    • 21,12,00,000 units: Free (no lock-in)

Impact Assessment

The listing of Raajmarg Infra Investment Trust marks a significant infrastructure investment opportunity on NSE, being an NHAI-sponsored InvIT. With 600 million units at Rs. 100 each, the total market capitalization at issue price is approximately Rs. 6,000 crore. The majority of units (over 38.88 crore) carry varying lock-in periods ranging from short-term to near-permanent, indicating strong sponsor commitment. Only 21.12 crore units are freely tradeable from the outset, which may create limited float and potential price volatility in early trading sessions. The pre-open session mechanism provides a price discovery buffer for market participants.

Impact Justification

New InvIT IPO listing backed by NHAI (National Highways Authority of India) with 600 million units at Rs. 100 each, representing significant infrastructure investment trust debut on NSE.