SBI Mutual Fund Sells Stake in NHIT, L&T and Vidyaniti LLP Step In

SBI Mutual Fund divested a 4.7% stake in National Highways Infra Trust (NHIT) for Rs 815 crore. The transaction saw Larsen & Toubro and Vidyaniti LLP acquiring a significant portion of the units. Meanwhile, NHIT received Competition Commission of India’s approval for acquiring concession rights to several road projects.

SBI Mutual Fund has divested a 4.7 percent stake in National Highways Infra Trust (NHIT), raising Rs 815 crore through an open market transaction. The move brings down SBI's holding in NHIT to 4.69 percent from the previous 9.34 percent.

Larsen & Toubro (L&T) and Vidyaniti LLP have acquired 5.99 crore units of NHIT in a transaction worth approximately Rs 799 crore. L&T secured a 1.71 percent stake, while Vidyaniti LLP acquired a 2.85 percent holding, picking up units at Rs 133.50 per unit.

In another significant development, the Competition Commission of India (CCI) approved NHIT Southern Projects' proposal to acquire concession rights for over 11 road projects from NHAI. This gives NHIT operational control under a Toll-Operate-Transfer (TOT) model for 20 years.

(With inputs from agencies.)