‘NHAI fund raisings to target retail investors’

Mumbai: Enthused by the strong retail interest for the non-convertible debentures (NCDs) by the National Highway Authority of India’s Infrastructure Investment Trust (NHAI InvIT), central highways minister Nitin Gadkari on Friday said the country’s premier highways builder will tap public funds more frequently. This will also give a chance to retail investors to participate in nation-building through infrastructure funding, also called ‘Jan-Bhagidaari’ by the central government.

Gadkari was speaking at the listing of NHAI InvIT’s NCDs on the BSE. NCDs worth Rs 9,227 crore were traded on the bourse on the first day, BSE data showed.

NHAI’s InvIT units, listed in November 2021, are also traded on the exchange. InvITs are debt-cum-equity hybrid instruments that are listed on the exchanges where the trusts work as pass-through vehicles that receive toll collections from physical infrastructures like roads and power transmission lines, and share most of that with the holders of InvIT units.