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

SBI Life Insurance and Vidyaniti LLP on Monday bought a 4.25 per cent unit-holding in National Highways Infra Trust for Rs 1,100 crore through the open market transaction while NHAI divested 8.24 crore units in the Trust.

A total of 8.24 crore units, representing a 4.25 per cent unit-holding, was acquired by both entities.

According to the block deal data available on the NSE, SBI Life Insurance Company picked up more than 3.74 crore units or 1.93 per cent holding in NHIT.

Vidyaniti LLP also bought over 4.49 crore units, amounting to a 2.3 per cent unit-holding in National Highways Infra Trust, as per the data on the exchange.

The units were picked up at an average price of Rs 133.57 per unit, taking the combined transaction value to Rs 1,100.61 crore.

Meanwhile, NHAI offloaded 8.24 crore units of NHIT at the same price, as per the data on the National Stock Exchange (NSE).

On Monday, National Highways Infra Trust's units were closed on a flat note at Rs 133.50 a unit on the NSE.

National Highways Infra Trust (NHIT), an infrastructure investment trust (InvIT) sponsored by the National Highways Authority of India (NHAI), was set up in 2021 to support the government's National Monetisation Pipeline.

In March, SBI Mutual Fund sold a 4.7 per cent stake in NHIT for Rs 815 crore.