KKR's InvIT Highways Infra Trust Secures Rs 82.50 Bn Debt from Top Banks
ROADS & HIGHWAYS

KKR's InvIT Highways Infra Trust Secures Rs 82.50 Bn Debt from Top Banks

Highways Infrastructure Trust (HIT), an infrastructure investment trust sponsored by private equity firm KKR, has secured debt financing of Rs 82.50 billion from a consortium of private sector and public sector lenders. The participating financial institutions include Axis Bank, HDFC Bank, ICICI Bank, IndusInd Bank, State Bank of India, Punjab National Bank, and India Infrastructure Finance Company Limited (IIFCL).

This funding represents one of the largest debt arrangements secured by an infrastructure investment trust (InvIT) in India. Structured as a Rupee Term Loan, the financing has a tenure of up to 17 years. The funds will be utilized for acquiring TOT Bundle 16 from the National Highways Authority of India (NHAI) and a portfolio of 12 road assets from PNC Infratech.

The agreement between KKR and PNC, announced in January 2024, is valued at approximately Rs 90 billion, making it one of the most significant transactions in India's road sector. The acquired portfolio consists of 11 hybrid annuity model (HAM) roads from NHAI and one toll road from the Uttar Pradesh State Highways Authority, covering approximately 3,800 lane kilometre across Rajasthan, Uttar Pradesh, Madhya Pradesh, and Karnataka.

Additionally, HIT is in the process of acquiring NHAI’s toll-operate-transfer (TOT) Bundle 16 for Rs 66.61 billion. This bundle includes a 251-km stretch on the Hyderabad-Nagpur corridor of NH-44 in Telangana.

To support these acquisitions, HIT’s sponsor, KKR, along with its second-largest shareholder, the Canadian pension fund Ontario Teachers’ Pension Plan (OTPP), will invest up to Rs 55 billion in equity. Currently, HIT manages assets worth Rs 170 billion, covering 16 project stretches and a total of 4,640 lane kilometre across nine states.

News source: Money Control

Highways Infrastructure Trust (HIT), an infrastructure investment trust sponsored by private equity firm KKR, has secured debt financing of Rs 82.50 billion from a consortium of private sector and public sector lenders. The participating financial institutions include Axis Bank, HDFC Bank, ICICI Bank, IndusInd Bank, State Bank of India, Punjab National Bank, and India Infrastructure Finance Company Limited (IIFCL). This funding represents one of the largest debt arrangements secured by an infrastructure investment trust (InvIT) in India. Structured as a Rupee Term Loan, the financing has a tenure of up to 17 years. The funds will be utilized for acquiring TOT Bundle 16 from the National Highways Authority of India (NHAI) and a portfolio of 12 road assets from PNC Infratech. The agreement between KKR and PNC, announced in January 2024, is valued at approximately Rs 90 billion, making it one of the most significant transactions in India's road sector. The acquired portfolio consists of 11 hybrid annuity model (HAM) roads from NHAI and one toll road from the Uttar Pradesh State Highways Authority, covering approximately 3,800 lane kilometre across Rajasthan, Uttar Pradesh, Madhya Pradesh, and Karnataka. Additionally, HIT is in the process of acquiring NHAI’s toll-operate-transfer (TOT) Bundle 16 for Rs 66.61 billion. This bundle includes a 251-km stretch on the Hyderabad-Nagpur corridor of NH-44 in Telangana. To support these acquisitions, HIT’s sponsor, KKR, along with its second-largest shareholder, the Canadian pension fund Ontario Teachers’ Pension Plan (OTPP), will invest up to Rs 55 billion in equity. Currently, HIT manages assets worth Rs 170 billion, covering 16 project stretches and a total of 4,640 lane kilometre across nine states. News source: Money Control

Next Story
Real Estate

Signature Global Prime Earns IGBC Platinum Certification for Sustainability

Signature Global (India) has achieved IGBC Platinum certification for its affordable housing project, Signature Global Prime, in Sector 63A, Gurugram. This milestone makes it one of the few affordable housing projects in India to earn the prestigious recognition.Spread over 5.7 acre, Signature Global Prime consists of 817 residential and 118 high-street retail units. The project advanced from Gold to Platinum certification by excelling in energy efficiency, water conservation, eco-friendly materials, and sustainable design.Lalit Aggarwal, Co-founder & Vice Chairman, stated, ""This achievem..

Next Story
Real Estate

Merino’s Special Laminates: Redefining Modern Interiors

Merino’s Special Laminates offer a perfect blend of aesthetics, durability, and functionality, making them a preferred choice for architects and designers. With diverse textures, patterns, and finishes, these laminates cater to varied design preferences—from minimalistic to bold interiors.Diverse Product RangeMerino’s collection includes:Sampada: Traditional Indian-inspired patterns.Luvih: Satin-smooth, fingerprint-resistant matte laminates.Infusio: High-definition, vibrant surface designs.Laminature: Realistic natural textures.Metalam: Sleek metallic finishes.Tuff Gloss MR+: High-gloss,..

Next Story
Real Estate

Casagrand Millenia Acquires Wagholi Land for Rs 1.26 billion

Casagrand Millenia has acquired a 1.18-ha land parcel in Wagholi, Pune, for Rs 1.26 billion (bn), as per property registration records. The transaction, involving a stamp duty of Rs 88.2 million and a registration fee of Rs 30,000, was finalised in January 2025.Anand Moorthy, Co-founder and CBO, Capital Market & Services, Square Yards, said, “Pune’s eastern micromarket is emerging as the most dynamic commercial hubs, witnessing the highest office offtake in the city. This surge coupled with well-developed physical and social infrastructure, seamless connectivity via the Pune-Ahilya..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?