New Delhi | March 27, 2026: Shardul Amarchand Mangaldas & Co. (SAM) acted as legal counsel to the book running lead managers, namely SBI Capital Markets Limited, ICICI Securities Limited, Axis Capital Limited, Motilal Oswal Investment Advisors Limited, in connection with the initial public offering of units by Raajmarg Infra Investment Trust aggregating to approximately INR 60,000 million.
The IPO marks the largest public offering in road sector in India and was oversubscribed nearly 14 times. The transaction involved the listing of units of Raajmarg Infra Investment Trust on BSE Limited and National Stock Exchange of India Limited.
The Trust is sponsored by the National Highways Authority of India and holds an initial portfolio of five toll road assets located across Jharkhand, Andhra Pradesh, Tamil Nadu, and Karnataka, operating under the toll-operate-transfer model.
The SAM transaction team was led by Nikhil Naredi, Partner, and Rohit Tiwari, Partner, with support from Saloni Tyagi, Principal Associate; Pritha Bhangale, Associate; and Shruti Maheshwari, Associate.
