Axis Bank Sells NHIT Stake for Rs 230 Crore

New Delhi, Mar 26 (PTI) Private sector lender Axis Bank on Wednesday divested a 1.3 per cent unitholding in National Highways Infra Trust (NHIT) for Rs 230 crore through an open market transaction.

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

According to the bulk deal data available on the BSE, Axis Bank sold more than 1.71 crore units, amounting to a 1.31 per cent unitholding in NHIT.

The units were disposed of at an average price of Rs 133.80 a unit, taking the transaction value to Rs 229.80 crore.

Details of the buyer(s) of the NHIT's units could not be ascertained on the exchange.

On Wednesday, National Highways Infra Trust's units declined 3.31 per cent to close at Rs 133.68 per unit on the BSE.

Last week, SBI Mutual Fund divested a 4.7 per cent unitholding in National Highways Infra Trust (NHIT) for Rs 815 crore.

Additionally, NHIT's arm NHIT Southern Projects granted a nod from the Competition Commission of India to acquire concession rights for over 11 road projects from NHAI through the automatic green channel route.

NHIT Southern Projects is a special-purpose vehicle.