The InvIT non-convertible debentures of National Highways Authority of India (NHAI) were listed on BSE today. Road Transport and Highways minister Nitin Gadkari rang the bell at BSE at 9.15 am to mark the listing of debentures. Gadkari said the listing of InvIT NCDs on Bombay Stock Exchange was historic as it marked the new dawn for people’s participation (Jan-Bhagidaari) in infra funding. 25% of NCDs were reserved for retail investors. The round 2 of InvIT was subscribed seven times in just 7 hours of its opening.
It offers an effective yield of 8.05% per annum with highest credibility, he added. The minimum investment slab is just Rs 10,000, he added.
Gadkari said internal rate of return in road infrastructure projects was very good. He said 26 greenfield expressways and several other projects were in pipeline, which would provide more investment opportunities.
The minster asked investors to continue their support for 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 were a great opportunity to realise PM Modi’s vision of Aatmanirbhar Bharat. He said huge investments in infrastructure especially roads, were crucial to the socioeconomic development of country. Gadkari expressed confidence that more retail investors would take part in next rounds and gradually overtake institutional investors.