India Highway Authority Plans Infra Trust IPO in March

The National Highways Authority of India is preparing to launch an initial public offering of its infrastructure investment trust, which could raise as much as 57 billion rupees ($629 million), as soon as next month, according to people familiar with the matter.

Raajmarg Infra Investment Trust has started meeting prospective investors and is likely to begin the share sale in the first half of March, the people said, asking not to be identified because the information is private. Deliberations are ongoing and details including the size and timing of the IPO could change, the people said. A spokesperson for Raajmarg didn’t immediately respond to requests for comment.