Raajmarg Infra Investment Trust Ipo
Raajmarg Infra InvIT IPO Review & Key Points
Review:
IPO Lead Managers aka Merchant Bankers
SBI Capital Markets Ltd.
Axis Capital Ltd.
ICICI Securities Ltd.
Motilal Oswal Investment Advisors Ltd.
| Name of the Company | Face Value (₹) | EPS basic (₹) | EPS Diluted (₹) | RONW (%) | P/E Ratio | NAV (₹) |
| Powerica Limited | 5 | 15.26 | 15.26 | 15.37 % | 24.45 | 99.76 |
| Listed Peers | ||||||
| Cummins India Limited | 2 | 72.15 | 72.15 | 26.45% | 64.13 | 272.78 |
| Kirloskar Oil Engines Limited | 2 | 33.71 | 33.60 | 15.85% | 43.24 | 212.60 |
| NTPC Green Energy Limited | 10 | 0.67 | 0.67 | 2.58% | 129.40 | 21.88 |
| Acme Solar Holdings Limited | 2 | 4.55 | 4.53 | 5.59% | 50.74 | 74.54 |
| Adani Green Energy Limited | 10 | 8.37 | 8.37 | 11.90% | 101.53 | 76.62 |
| IPO Open Date | March 11, 2026 |
| IPO Close Date | March 13, 2026 |
| Face Value | ₹10 Per Equity Share |
| IPO Price Band | ₹99 to ₹100 Per Share |
| Issue Size | Approx ₹6,000 Crores |
| Fresh Issue | Approx ₹6,000 Crores |
| Issue Type | Book build Issue |
| IPO Listing | BSE, NSE |
| DRHP Draft Prospectus | |
| RHP Draft Prospectus |
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 1 | 150 | ₹15,000 |
| Retail Maximum | – | – | ₹- |
| S-HNI Minimum | – | – | ₹- |
| S-HNI Maximum | – | – | ₹- |
| B-HNI Minimum | – | – | ₹- |
| Investor Category | Share Offered | Shares (%) |
| Anchor Investor | 17,28,00,000 Shares | 33.74% |
| QIB (Ex. Anchor) | 11,63,63,400 Shares | 22.72% |
| NII Shares Offered | 9,69,69,750 Shares | 18.93% |
| Retail Shares Offered | – Shares | -% |
| Strategic Investor Shares Offered | 12,60,00,000 Shares | 24.60% |
| Anchor Bidding Date | March 10, 2026 |
| Anchor Investors List | |
| Shares Offered | 17,28,00,000 Shares |
| Anchor Size | 1,728.00 Cr. |
| lock-in period end date 50% shares (30 Days) | April 17, 2026 |
| IPO Open Date: | March 11, 2026 |
| IPO Close Date: | March 13, 2026 |
| Basis of Allotment: | March 18, 2026 |
| Refunds: | March 20, 2026 |
| Credit to Demat Account: | March 20, 2026 |
| IPO Listing Date: | March 24, 2026 |
| IPO Bidding Cut-off Time: | March 13, 2026 – 5 PM |
| Particular | Shares | % Share |
| Promoter Holding Pre Issue | – | -% |
| Promoter Holding Post Issue | – | -% |
| Purpose | Crores |
| Infusion of debt and equity into the Project SPV, which shall be utilized by the Project SPV for the payment of concession value of the InvIT Assets to NHAI | ₹5,850 |
| General purposes | ₹- |
| Period Ended | Revenue | Expense | PAT | Assets |
| 2023 | ₹- | ₹- | ₹- | ₹- |
| 2024 | ₹- | ₹- | ₹- | ₹- |
| 2025 | ₹- | ₹- | ₹- | ₹- |
| KPI | Values |
| ROE: | -% |
| ROCE: | -% |
| EBITDA Margin: | -% |
| PAT Margin: | -% |
| Debt to equity ratio: | – |
| Earning Per Share (EPS): | ₹- (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | -% |
| Net Asset Value (NAV): | ₹- |
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| Cube Highways Trust | – | – | -% | 142.70 | – Cr. |
| Vertis Infrastructure Trust | – | – | -% | 103.35 | – Cr. |
| Interise Trust | – | – | -% | 104.18 | – Cr. |
| National Highways Infra Trust | – | – | -% | 145.80 | – Cr. |
| IRB Invit Fund | – | – | -% | 79.50 | – Cr. |
| Period Ended | Revenue | Expense | PAT | Assets |
| 2023 | ₹184.81 | ₹154.97 | ₹32.10 | ₹251.58 |
| 2024 | ₹206.45 | ₹175.85 | ₹34.44 | ₹339.25 |
| 2025 | ₹322.58 | ₹261.43 | ₹28.13 | ₹455.49 |
| Dec 2025 | ₹236.50 | ₹186.96 | ₹38.69 | ₹561.34 |