On October 28, NHAI’s Infrastructure Investment Trust (InvIT) oversubscribed by about five times and was listed on the Bombay Stock Exchange (BSE). On October 17, the issue closed on November 7.

• Vedanta Outlook for the Week (May 06, 2024 – May 10, 2024)
• Tata Steel Outlook for the Week (May 06, 2024 – May 10, 2024)
• PFC Outlook for the Week (May 06, 2024 – May 10, 2024)
• Piramal Enterprises Outlook for the Week (May 06, 2024 – May 10, 2024)
• MANAPPURAM Outlook for the Week (May 06, 2024 – May 10, 2024)

“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. This round was special because 25% of the NCDs (Non-Convertible Debentures) are reserved for retail investors,” the Ministry of Road Transport & Highways said in a statement.

More than Rs 8,000 crore NHAI InvIT has raised funds from high-quality foreign and Indian institutional investors; additional funds also raised Rs 2,850 crore. These instruments follow the pattern of mutual funds. Investors invest money which will invest in assets that will increase cash flow for a period of time. InvITs invest in either road toll projects or power projects.

The face value of NCDs of Rs 1,000 each has been divided into three parts to make a redemption. The company has NCDs’ CARE AAA/Stable’ by CARE Ratings, ‘IND AAA/Stable’ by India Ratings and by Research Private Limited.