SBI Mutual Fund Sells NHIT Stake for Rs 815 Crore

New Delhi, Mar 20 (PTI) SBI Mutual Fund on Thursday divested a 4.7 per cent unitholding in National Highways Infra Trust (NHIT) for Rs 815 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 government's National Monetisation Pipeline.

According to the bulk deal data available on the National Stock Exchange (NSE), SBI Mutual Fund sold more than 6.10 crore units or 4.7 per cent unitholding in NHIT.

The units were disposed of at an average price of Rs 133.50 per unit, taking the transaction value to Rs 814.68 crore.

After the sale, SBI Mutual Fund's holding in New Delhi-based NHIT will come down to 4.69 per cent from 9.34 per cent.

Meanwhile, infrastructure major Larsen & Toubro (L&T) and Vidyaniti LLP acquired nearly 5.99 crore units of NHIT for a combined value of Rs 799 crore.

As per the data, L&T picked up 2.24 crore units or 1.71 per cent unitholding in National Highways Infra Trust, while Vidyaniti LLP purchased 3.74 crore units or 2.85 per cent stakeholding in the InvIT.

The units of NHIT were bought at the same price, taking the aggregate value to Rs 798.99 crore.

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

NHIT's units on Thursday rose 1.14 per cent to close at Rs 133.50 per unit on the NSE.

On Monday, the Competition Commission of India (CCI) granted its approval to NHIT Southern Projects' proposal to acquire concession rights for over 11 road projects from NHAI through the automatic green channel route.

The deal (target assets) structured under the Toll-Operate-Transfer (TOT) model, grants NHIT Southern Projects operational control for a concession period of 20 years.

NHIT Southern Projects is a special-purpose vehicle and wholly-owned subsidiary of NHIT.

In a separate bulk deal on the NSE, Bajaj Finance offloaded 25.27 lakh shares of AGS Transact Technologies for nearly Rs 3 crore through an open market transaction.

As per the data, Bajaj Finance Ltd sold the shares of AGS Transact Technologies at an average price of Rs 11.34 per piece, taking the deal value to Rs 2.86 crore.

Details of the buyers of AGS Transact Tech's shares could not be identified on the NSE.

Shares of AGS Transact Technologies declined 4.80 per cent to settle at Rs 11.30 apiece on the NSE.