In a significant move within the infrastructure investment space, Premji Invest, the private equity firm of billionaire Azim Premji, has acquired a substantial stake in the National Highways Infra Trust (NHIT). The transaction, executed on Monday, underscores the growing confidence of major institutional investors in India's road asset monetisation programme.
The Details of the Bulk Deal
Premji Invest, operating through its entity Prazim Trading and Investment Company Pvt Ltd, purchased a total of 5.06 crore units of NHIT. This acquisition represents a 2.61 per cent unit-holding in the infrastructure investment trust. The bulk deal data available on the National Stock Exchange (NSE) confirmed the transaction.
The units were bought at an average price of ₹149.06 per unit. This pricing brought the total transaction value to a substantial ₹754.24 crore. On the same day, the selling entity, Vidyaniti LLP, offloaded an identical number of units at the same price point.
Background of the Entities Involved
Prazim Trading and Investment Company is recognised as one of the promoter group entities of the IT giant Wipro. The buyer's side of the deal is therefore closely linked to one of India's most prominent business families.
Interestingly, Vidyaniti LLP had itself acquired a 4.25 per cent unit-holding in NHIT for ₹1,100 crore from the National Highways Authority of India (NHAI) just in March of this year. This quick turnaround indicates active trading and portfolio rebalancing in the infra-investment trust segment.
Market Reaction and Broader Context
Following the news of the bulk deal, NHIT's units saw a positive movement on the bourses. They rose by 0.57 per cent to close at ₹149 apiece on the NSE. The trade highlights the liquidity and investor appetite for such instruments.
NHIT is an infrastructure investment trust that was sponsored by the NHAI and established in 2021. It plays a crucial role in the government's ambitious National Monetisation Pipeline, which aims to unlock value in public infrastructure assets. The trust holds a portfolio of operational national highway assets, offering investors a chance to participate in the country's infrastructure growth story through a stable income-generating vehicle.
This investment by Premji Invest signals a strong endorsement from a sophisticated domestic investor for the infrastructure trust model. It also points towards the maturing of India's market for long-term infrastructure financing, where such trusts act as a vital conduit for channeling institutional capital into public assets.
