NHIT Corrects Allotment Data, Revises Payout Record Date

National Highways Infra Trust (NHIT), an infrastructure investment trust sponsored by the National Highways Authority of India (NHAI), has recently undertaken two significant corporate actions. The trust issued a clarification to correct a typographical error in its upcoming preferential allotment details and separately revised the record date for a unitholder distribution payment due to a clearing holiday.

Clarification on Preferential Allotment Unitholding

NHIT addressed a typographical error in the explanatory statement for its 6th Extra-Ordinary Meeting concerning a preferential allotment. The correction pertains to the post-issue unitholding pattern under what the company refers to as scenario 1. The trust confirmed that all other information related to the issue remains unchanged. The corrected pattern provides investors with an accurate view of the sponsor's stake post-issue.

Capital Raising Structure and Timeline

The preferential allotment is part of a larger capital-raising initiative that also includes an institutional placement. The investment manager's board approved the placement at a floor price of ₹149.50 per unit. The bidding for this placement is scheduled from March 20th to March 23rd, 2026. Under the plan, the sponsor is set to subscribe to 20% of the total issue size, with the remaining units offered through the institutional placement.

Revised Record Date for Distribution

In a separate announcement on March 18, 2026, NHIT revised the record date for its distribution payment. The date was moved from March 19 to March 20, 2026. The trust cited technical issues related to a clearing holiday as the reason for the change. This revision ensures that the eligibility of unitholders for the distribution is determined without any settlement complications.

Distribution and Dividend Details

The distribution amount for the January 2026 period remains unchanged at ₹1.160 per unit. This payment consists of ₹1.157 per unit as interest pass-through and ₹0.003 per unit as other income generated from surplus funds at the trust level. The payment, subject to applicable withholding taxes, is scheduled to be completed within five working days of the new record date. This follows a board recommendation on March 16, 2026, for a final dividend of ₹1.16 per share, and an earlier recommendation on January 27, 2026, for a dividend of ₹2.744 per share.

Regulatory Framework and Compliance

NHIT has secured in-principle approvals from both the BSE Limited and the National Stock Exchange of India Limited for its institutional placement. The investment manager has also approved the preliminary placement document, ensuring all actions comply with SEBI InvIT Regulations and SEBI LODR Regulations. The formal communication of the revised record date was made to both exchanges, maintaining transparency with regulators and investors.

Broader Fundraising Context

These corporate actions occur as NHIT continues its successful asset monetization program. The trust recently concluded its fourth round of fundraising with an enterprise value of approximately ₹18,380 crore. This round raised ₹8,340 crore in unit capital and ₹10,040 crore in debt. The issue saw strong demand from both new and existing investors, including a significant ₹2,035 crore subscription from the Employees’ Provident Fund Organisation (EPFO), its first-ever investment in an InvIT. Foreign investors like the Canada Pension Plan Investment Board and Ontario Teachers' Pension Plan Board also participated.

Market Position and Financial Health

With the completion of its fourth fundraising round, NHIT's portfolio has expanded to 26 operating toll roads, covering an aggregate length of 2,345 km across 12 states. The trust's debt instruments have received strong credit ratings, including 'CARE AAA (Stable)' from CARE Ratings and 'IND AAA/Stable' from India Ratings and Research. As of March 17, 2026, NHIT's market capitalization stood at ₹30,021 crore, with a dividend yield of 6.99%.

Conclusion

The recent clarification on the unitholding pattern and the adjustment of the distribution record date reflect NHIT's commitment to procedural accuracy and regulatory compliance. As the trust proceeds with its institutional placement, these actions provide investors with clear and precise information, supporting its ongoing capital expansion and asset acquisition strategy.