National Highways Infra Trust (NHIT) is planning to raise up to Rs 2,350 crore through bank loans and bonds to acquire three road assets from state-owned National Highway Authority of India.
NHIT, a BSE-listed infrastructure investment trust (InvIT), already has five operational assets under its wings and now proposes to acquire Agra Bypass, the Borkhedi-Wadner-Kelapur section and the Shivpuri-Jhansi section. It will sign a concession agreement with NHAI for 20 years for them.
Of the Rs 2,350 crore funds planned to be raised, Rs 850 crore will come from long-term bank loans and Rs 1,500 crore from non-convertible debentures. CARE Ratings has assigned Provisional “AAA” with stable outlook to both facilities.
