NHAI InvIT NCD Listed On Bombay Stock Exchange, Gadkari Urges Public To Participate In India's Expressway Revolution
Union Minister for Road Transport and Highways Nitin Gadkari rang the bell at Bombay Stock Exchange (BSE) at 9.15 am on Friday (28 October) in Mumbai and ceremoniously marked the listing of NHAI InvIT (Infrastructure Investment Trusts) Non Convertible Debentures (NCD).
Infrastructure Investment Trusts are instruments on the pattern of mutual funds, designed to pool money from investors and invest in assets that will provide cash flows over a period of time.
Gadkari said the listing of InvIT NCDs on Bombay Stock Exchange is historic as it marks the new dawn for people's participation in infrastructure funding.
He said we have reserved 25 per cent of NCDs for retail investors.
“The round-2 of InvIT has been oversubscribed almost seven times in just seven hours of its opening. It offers an effective yield of 8.05 per cent per annum with highest credibility,” he added.
The Minister said he felt happy that we could finally give the Retail Investors, who are mostly retired citizens, salaried individuals, small and medium business owners, an opportunity to participate in nation building.
Gadkari said 26 greenfield expressways and several other projects are in the pipeline which will provide more investment opportunities.
Earlier National Highways Infra Trust (NHAI InvIT), has raised a sum of Rs 1,430 crore from domestic and international investors.
The amount was raised through placement of its units, for part funding its acquisition of three additional road projects from NHAI.
As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.
Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.
We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.
Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.