Shri Nitin Gadkari rings the bell at the Bombay Stock Exchange in Mumbai marking the listing of NHAI InvIT Non-Convertible Debentures
Union Minister for Road Transport and Highways Shri Nitin Gadkari rang the bell at the 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 Mrs Alka Upadhyaya was present along with other dignitaries on the occasion. Shri Gadkari thanked all the institutional and retail investors for their overwhelming response and for reposing faith in the credibility of NHAI.
Shri 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. 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.
Shri 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 of infrastructure projects to realise the vision of the 5 trillion dollar economy of Prime minister Shri Narendra Modi. He said infrastructure projects are economically viable and will give good returns.
Shri Gadkari said Bonds are a great opportunity to realize Prime Minister Shri Narendra Modi Ji’s vision of AatmanirbharBharat. He said huge investments in infrastructure especially roads, are crucial to the socioeconomic development of our country & he was confident that more retail investors will take part in the next rounds and gradually overtake institutional investors.
Disclaimer: This is an official press release by PIB.