New Delhi: NHAI InvIT, which has been oversubscribed by about five times, will be listed on the Bombay Stock Exchange on October 28. Infrastructure Investment Trusts (InvIT) 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.
"The round#2 of InvIT has been oversubscribed almost 5 times in 10 percent of the scheduled tenure," the Ministry of Road Transport & Highways said in a statement on Thursday.
Tomorrow is the historic day as these InvIT NCDs will be listed on BSE and Road Transport and Highways Minister Nitin Gadkari will ring the bell marking a great beginning for public participation in infra funding, the statement said.
"This round is special because 25 percent of the non-convertible debentures (NCDs) are reserved for retail investors," the statement said.
With this option retired citizens, salaried individuals, small and medium business owners have a great opportunity to invest in building new India and at the same time get healthy returns (of at least 8.05 percent per annum), it said.
On October 13, Gadkari had said that NHAI's InvIT is looking to raise an additional Rs 3,800 crore.
Addressing an event organised by the National Highways Infra Trust, Gadkari had said that of the additional fundraise, around Rs 1,500 crore are being garnered through an issue of non-convertible debentures with a long-dated maturity of 24 years.
These InvIT bonds will be listed on BSE and NSE providing an opportunity for investors to invest and trade, he had added.
Gadkari had said that the InvIT, so far, has raised more than Rs 8,000 crore from foreign and Indian institutional investors.