Description
NSE notifies listing of 201.7 million additional units of National Highways Infra Trust (NHIT) arising from QIP and preferential allotment, effective March 27, 2026.
Summary
NSE has notified the listing of further issues of units of National Highways Infra Trust (NHIT) under Circular Ref. No. 0523/2026 (Download Ref: NSE/CML/73482). A total of 201,700,000 new units (Series IV, ISIN: INE0H7R23014) at an issue price of ₹153 per unit are admitted to dealings on the NSE Capital Market segment effective March 27, 2026. These units arise from two separate allotments: a QIP issue and a preferential allotment, both dated March 25, 2026.
Key Points
- Symbol: NHIT | Series: IV | ISIN: INE0H7R23014
- Issue Price: ₹153 per unit
- QIP Allotment: 161,360,000 units (Distinctive Nos. 1977190601 to 2138550600), allotted March 25, 2026; no lock-in
- Preferential Allotment: 40,340,000 units (Distinctive Nos. 1936850601 to 1977190600), allotted March 25, 2026; subject to lock-in (see Annexure I)
- Total New Units: 201,700,000
- All new units rank pari passu with existing units
- Units are in dematerialized form; temporary ISIN (IN8*********) applies pending activation per SEBI circulars CIR/MRD/DP/21/2012 and CIR/MRD/DP/24/2012
Regulatory Changes
No new regulatory changes introduced. The listing is executed under:
- Regulation 3.1.1 of NSE (Capital Market) Trading Regulations Part A — admission of securities to dealings
- Regulation 2.5.5 of NSE (Capital Market) Trading Regulations Part A — lot size specifications
Compliance Requirements
- Trading in NHIT units must use the designated security codes only
- Trading must be conducted in the specified lot sizes
- Lock-in restrictions apply to preferential allotment units as per Annexure I:
- 1,512,750 units locked in until March 29, 2029
- 38,827,250 units locked in until March 27, 2027
- Dematerialized units are credited under temporary ISIN pending activation; holders should monitor ISIN activation status
Important Dates
| Event | Date |
|---|---|
| Circular Date | March 25, 2026 |
| Date of Allotment (both tranches) | March 25, 2026 |
| Effective Date for Trading | March 27, 2026 |
| Lock-in Expiry (preferential tranche 1 — 1,512,750 units) | March 29, 2029 |
| Lock-in Expiry (preferential tranche 2 — 38,827,250 units) | March 27, 2027 |
Impact Assessment
The listing of 201.7 million new NHIT units represents a significant capital raise for the National Highways Infra Trust. At the issue price of ₹153, the combined issuance raises approximately ₹3,086 crore (QIP: ~₹2,469 crore; preferential: ~₹617 crore). The supply increase may exert short-term price pressure on NHIT units in the secondary market. The preferential allotment lock-in (with a portion locked until 2029) partially offsets dilution concerns by restricting near-term secondary selling from those allottees. Existing unitholders will experience dilution but the pari passu ranking confirms equal economic rights for all units.
Impact Justification
Large-scale unit issuance (201.7M units) for an infrastructure trust via QIP and preferential allotment with lock-in periods; operationally significant for NHIT investors but routine listing action.