MUMBAI, Nov. 8 -- Retail investors with demat accounts may soon be able to invest in the toll revenue generated by Bandra-Worli Sea Link, officially known as the Rajiv Gandhi Sea Link. The Maharashtra government plans to launch its first Infrastructure Investment Trust (InvIT), called Maha-InvIT, which is likely to be listed on stock exchanges next year. The 5.6-km Sea Link, managed by the Maharashtra State Road Development Corporation (MSRDC), will be among its first assets. Three state officials told Hindustan Times that the trust will also include selected operational roads, bridges and industrial infrastructure managed by the Public Works Department (PWD), MSRDC and MIDC. An InvIT is a SEBI-regulated vehicle pooling investor funds to invest in revenue-generating infrastructure. Investors buy units via demat accounts to earn returns from asset revenues. In April 2025, the Maharashtra Cabinet approved Maha-InvIT, backed by the state-established Maha-InvIT Sponsor Corporation Limited, to unlock existing asset values and fund new roads, bridges, and infrastructure. The Bandra-Worli Sea Link-inaugurated on June 30, 2009, at Rs.1,653.25 crore-is expected to be valued at over Rs.5,000 crore. Independent SEBI-registered valuers, appointed by MSRDC and the sponsor, will determine its value based on projected toll cash flows and financial advice. Crucially, the government retains physical ownership under public oversight, transferring only toll collection and operational revenue rights to the trust. Additional road and bridge assets will be selected for their steady traffic and toll revenue. The Mumbai-Nagpur Samruddhi Expressway may join once earnings stabilise. Requests for proposals have been issued to appoint valuers for the initial asset bundle. This monetisation structure reflects established Indian models like the National Highways Authority of India's NHIT and private entities like IRB InvIT, which holds operational highway assets across Maharashtra and other states, distributing earned revenues directly to unit holders....