Linklaters acted as international counsel to National Highways Infra Trust (NHIT), a privately listed infrastructure investment trust and its sponsor, National Highways Authority of India (NHAI), on an institutional placement of units (Reg S) to eligible investors. This marks the second institutional placement of units by NHIT.
As part of the third round of the national monetisation, the NHAI raised unit capital of around INR 72,640m (approx. US$870m) from marquee domestic and international investors, including two international pension funds – Canada Pension Plan Investment Board and Ontario Teachers’ Pension Plan Board – which will continue to hold a 25% stake each in NHIT.
The Linklaters team was led by partner and Head of India Practice Amit Singh, with support from counsel Joseph Wolpin and associate Rushil Oberoi. The team has also previously advised on the initial placement of units by NHIT and also its first institutional placement. Linklaters has acted as the sole international counsel on all three transactions.
Head of India Practice and Head of South and Southeast Asia Capital Markets Amit Singh commented:
“We are delighted to be able to play our part on this milestone transaction as NHAI concludes its third round of road monetisation. Our team is truly grateful for the longstanding working relationship we have established along the way with our client. Our congratulations to everyone involved in this successful transaction.”
Linklaters has an established reputation as the leading Indian capital markets practice, offering technical expertise and commercial awareness to create novel solutions to maximise investment opportunities. The team supports international clients and leading Indian corporates as they invest both within and outside India across a wide range of sectors. The firm’s India practice is ranked in the top tier across all publications.
