National Highways Infra Trust (NHIT) plans to raise up to Rs 2,350 crore through bank loans and bonds to acquire three road assets from the state-owned National Highway Authority of India.

NHIT, a BSE-listed infrastructure investment trust (InvIT), already has five operating assets under its wing and is now proposing to acquire Agra Bypass, Borkhedi-Wadner-Kelapur Section and Shivpuri-Jhansi Section. For them, it signs a concession agreement with NHAI for 20 years.

Of the Rs 2,350 crore slated to be raised, Rs 850 crore will come from long-term bank loans and Rs 1,500 crore from non-convertible bonds. CARE Ratings has assigned a preliminary "AAA" with stable outlook to both facilities. NHIT has a sanctioned debt of Rs 2,000 crore for a period of 20 years out of which it has raised Rs 1,480 crore until March 2022. In addition, the InvIT has raised capital of Rs 6,011 crore.