TC Web Desk
NHAI’s Infrastructure Investment Trust (InvIT) Non-Convertible Debentures were listed on the Bombay Stock Exchange (BSE) on Friday. Union Minister for Road Transport and Highways Nitin Gadkari rang the bell at BSE and ceremoniously marked the listing of NHAI InvIT Non-Convertible Debentures.
Gadkari said the listing of InvIT NCDs on Bombay Stock Exchange is historic as it marks the new dawn for People’s Participation (Jan-Bhagidaari) in Infra Funding. He said we have reserved 25% of NCDs for Retail Investors.
The second round of InvIT has been oversubscribed almost seven times in just seven hours of its opening. It offers an effective yield of 8.05% per annum with highest credibility, he added. The Minister said he felt very happy that we could finally give the Retail Investors (retired citizens, salaried individuals, small and medium business owners) an opportunity to participate in the Nation-Building activity. The minimum investment slab is just Rs 10,000, he added.
Gadkari said internal rate of return in road infrastructure projects is very good. He said 26 greenfield expressways and several other projects are in pipeline which will provide more investment opportunities. He asked investors to continue their support to infrastructure projects to realise the vision of five trillion-dollar economy. He said infrastructure projects are economically viable and will give good returns.
He said huge investments in infrastructure especially roads, are crucial to the socio-economic development of our country and he was confident that more retail investors will take part in next rounds and gradually overtake institutional investors. Earlier, the Ministry had said that the second round of InvIT has been oversubscribed almost 5 times in 10% of the scheduled tenure.
