National Highways Infrastructure Trust issues Rs 1,500-crore NCDs

National Highways Infrastructure Trust (NHIT) will raise Rs 1500 crore through non-convertible debentures, as it looks to add three highways stretches worth Rs 3800 crore to its portfolio.

NHIT is the Infrastructure Investment Trust (InvIT) of the National Highways Authority of India (NHAI). Last week, the InvIT raised external capital of 1217 crore from institutional investors.

The trust will issue 15 million debentures of three separate face values, according to a filing made by the trust to the Securities and Exchange Board of India (SEBI).

While Union minister for road transport and highways and earlier said that he wantes to tap public funds for highway development, many thought that this would mean the public listing of the currently private-listed InvIT.