SBI Mutual Fund Sells 4.7% Unitholding in National Highways Infra Trust for Rs 815 Crore

SBI Mutual Fund recently sold a 4.7% stake in National Highways Infra Trust (NHIT) for Rs 815 crore via an open market deal. NHIT, established in 2021 by the National Highways Authority of India (NHAI), supports the government's National Monetisation Pipeline. The sale involved over 6.10 crore units at an average price of Rs 133.50 each, totalling Rs 814.68 crore.

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Following this transaction, SBI Mutual Fund's stake in NHIT, based in New Delhi, decreased from 9.34% to 4.69%. Meanwhile, Larsen & Toubro (L&T) and Vidyaniti LLP acquired nearly 5.99 crore units of NHIT for a combined Rs 799 crore. L&T purchased 2.24 crore units, representing a 1.71% stake, while Vidyaniti LLP bought 3.74 crore units, equating to a 2.85% stake.

Infrastructure Investment Trust Developments

NHIT's unit price rose by 1.14%, closing at Rs 133.50 on the NSE recently. This increase followed the Competition Commission of India's (CCI) approval for NHIT Southern Projects to acquire concession rights for over 11 road projects from NHAI through the automatic green channel route. These projects are structured under the Toll-Operate-Transfer (TOT) model, granting NHIT Southern Projects operational control for a concession period of two decades.

NHIT Southern Projects is a special-purpose vehicle and a wholly-owned subsidiary of NHIT. The details of other buyers involved in acquiring NHIT units were not available on the exchange.

Other Market Transactions

In another significant transaction on the NSE, Bajaj Finance sold 25.27 lakh shares of AGS Transact Technologies for nearly Rs 3 crore through an open market deal. The shares were sold at an average price of Rs 11.34 each, resulting in a total transaction value of Rs 2.86 crore.

The buyers of AGS Transact Technologies' shares remain unidentified on the NSE platform. Following this transaction, AGS Transact Technologies' share price dropped by 4.80%, closing at Rs 11.30 per share on the NSE.

The recent transactions highlight ongoing activities in infrastructure investment trusts and other market sectors, reflecting strategic moves by major financial entities and investors.