NHAI files papers with Sebi for InvIT, plans to raise ₹5,100 cr
NEW DELHI : The National Highways Authority of India (NHAI) on Monday filed draft papers with markets regulator Sebi for floating an Infrastructure Investment Trust (InVIT) through which it seeks to raise ₹5,100 crore.
InvITs are instruments on the pattern of mutual funds and are designed to pool small sums of money from a number of investors to invest in assets that give cash flow over a period of time.
NHAI plans to mop up total of ₹5,100 crore through fresh issue, as per the draft papers filed with the Securities and Exchange Board of India (Sebi).
In addition, there would be an offer-for-sale (OFS). However, the OFS amount has not been specified in the draft papers.
