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NHAI InvIT NCDs listed on BSE; Nitin Gadkari rings bell to mark the listing NHAI InvIT
Image Credit: PIB

NHAI InvIT NCDs listed on BSE; Nitin Gadkari rings bell to mark the listing

India Blooms News Service | @indiablooms | 28 Oct 2022, 11:45 pm

NHAI InvIT Non-Convertible Debentures were listed on the Bombay Stock Exchange (BSE), the Ministry of Road Transport & Highways (MoRTH) said Friday.

MoRTH Minister Nitin Gadkari rang the bell at BSE at 9.15 am today in Mumbai and ceremoniously marked the listing of NHAI InvIT Non-Convertible Debentures and thanked all the institutional and retail investors for their overwhelming response and reposing faith in the credibility of NHAI.

Gadkari said the listing of InvIT NCDs on the 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 the highest credibility, he added.

The Minister said he felt very happy that we could finally give the Retail Investors (retired citizens, salaried individuals, and 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 the internal rate of return on road infrastructure projects is very good and added that 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 a 5 trillion dollar economy of Prime minister  Narendra Modi.

He said infrastructure projects are economically viable and will give good returns.

Bonds are a great opportunity to realize the Prime Minister's vision of AatmanirbharBharat.

He said huge investments in infrastructure, especially roads, are crucial to the socioeconomic development of our country and he was confident that more retail investors will take part in the next rounds and gradually overtake institutional investors.