NHAI InvIT NCD Listed On Bombay Stock Exchange, Gadkari Urges Public To Participate In India's Expressway Revolution
Nitin Gadkari at Bombay Stock Exchange (@nitin_gadkari/Twitter)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.
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