NHAI’s InvIT Non Convertible Debentures listed in Bombay Stock exchange; Nitin Gadkari rings the bell
Kanwar Inder Singh/ royalpatiala.in
Union Minister for Road Transport and Highways Nitin Gadkari rang the bell at Bombay Stock Exchange at 9.15 am today in Mumbai and ceremoniously marked the listing of NHAI InvIT Non Convertible Debentures . Secretary MoRTH and Chairman, NHAI Alka Upadhyaya was present alongwith other dignitaries on the occasion. Gadkari thanked all the institutional and retail investors for their overwhelming response and reposing faith in credibility of NHAI.
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 round 2 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 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 oppurtunities. He asked investors to continue their support to infrastructure projects to realise the vision of 5 trillion dollar economy of Prime minister Narendra Modi .He said infrastructure projects are economically viable and will give good returns.
NHAI’s InvIT Non Convertible Debentures listed in Bombay Stock exchange; Nitin Gadkari rings the bell. Gadkari said Bonds are a great opportunity to realize Prime Minister Narendra Modi vision of Aatmanirbhar Bharat. He said huge investments in infrastructure especially roads, are crucial to the socio-economic development of our country & he was confident that more retail investors will take part in next rounds and gradually overtake institutional investors.
October 28,2022
