Nitin Gadkari rings the bell at BSE, NHAI InvIT gets listed
New Delhi: Union Minister for Road Transport and Highways (MoRTH), Nitin Gadkari rang the bell at BSE in Mumbai and ceremoniously marked the listing of NHAI InvIT Non-Convertible Debentures on Friday. MoRTH Secretary and NHAI Chairman Alka Upadhyaya was present along with other dignitaries on the occasion. Gadkari thanked all the institutional and retail investors for their overwhelming response and for reposing faith in the credibility of NHAI.
NHAI InvIT: Minimum investment slab fixed at Rs 10,000; oversubscribed by seven times
Gadkari said the listing of InvIT NCDs on BSE is historic as it marks the new dawn for people's participation (Jan-Bhagidaari) in infra funding. He said we have reserved 25 percent of NCDs for retail investors. The round two of InvIT has been oversubscribed almost seven times in just seven hours of its opening. It offers an effective yield of 8.05 percent per annum with the highest credibility, he added. The minimum investment slab is just Rs 10,000, he added.
Rate of return high in road infrastructure projects
Gadkari said, the internal rate of return on 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 5-trillion-dollar economy of Prime Minister Narendra Modi. He said infrastructure projects are economically viable and will give good returns.
Gadkari said, bonds are a great opportunity to realise PM Modi's vision of Aatmanirbhar Bharat. 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 the next rounds and gradually overtake institutional investors.