SBI Life, Vidyaniti acquire 4.25% stake in NHIT for Rs 1,100 crore

On Monday, SBI Life Insurance and Vidyaniti LLP acquired a 4.25 percent stake in National Highways Infra Trust for Rs 1,100 crore via an open market transaction, as NHAI sold 8.24 crore units in the Trust.

Both entities acquired a total of 8.24 crore units, which accounts for a 4.25 percent unit-holding. Based on the block deal information provided by the NSE, SBI Life Insurance Company acquired over 3.74 crore units, which represents a 1.93 percent stake in NHIT.

Vidyaniti LLP also acquired more than 4.49 crore units, representing a 2.3 percent stake in National Highways Infra Trust, according to exchange data. The units were purchased at an average of Rs 133.57 each, bringing the total transaction value to Rs 1,100.61 crore. Concurrently, NHAI divested 8.24 crore units of NHIT at the same rate, as indicated by National Stock Exchange (NSE) data.

On Monday, units of National Highways Infra Trust ended unchanged at Rs 133.50 per unit on the NSE.

National Highways Infra Trust (NHIT), an InvIT supported by the National Highways Authority of India (NHAI), was established in 2021 to assist the government’s National Monetisation Pipeline. In March, SBI Mutual Fund divested a 4.7 percent share in NHIT for Rs 815 crore.