New Delhi: The non-convertible debentures of NHAI’s Infrastructure Investment Trust (InvIT) got listed on the BSE on Friday and received an overwhelming response from retail investors. Union Minister for Road Transport and Highways Nitin Gadkari, who rang the bell to mark the listing, thanked the investors and said that going forward such fresh fund raising will increase the retail share.
Following the listing of the second tranche of NHAI Infrastructure Investment Trust (InvIT) and NCDs, which were raised earlier this month 1,430 crore, the minister said, adding that the issue was oversubscribed almost seven times.
He said, “We have reserved 25% NCDs for retail investors. The 2nd round of InvIT has been oversubscribed almost 7 times in just 7 hours of its opening. It offers an effective yield of 8.05% per annum with highest reliability. is,” he said. , The minimum investment slab was 10,000.
The minister said that the listing of InvIT NCDs on BSE is historic as it marks a new dawn for people’s participation in infra funding.
Gadkari said the internal rate of return in road infrastructure projects is very good, and 26 greenfield expressways and several other projects are in the pipeline which will provide more investment opportunities.
He asked investors to continue their support to infrastructure projects to realize Prime Minister Narendra Modi’s vision of a $5 trillion economy.
Gadkari said that huge investment in infrastructure especially roads is crucial for the socio-economic development of our country and he is confident that in the next round more retail investors will participate and gradually overtake institutional investors.
On October 13, Gadkari had said that NHAI’s InvIT is looking to raise additional funds. 3,800 crores.
Addressing the gathering, NHAI Chairperson Alka Upadhyay said that the upcoming InvITs of NHAI will have more units reserved for retail, but did not specify the quantum.
PTI contributed to this story.
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