Union Minister for Road Transport and Highways Nitin Gadkari rang the bell at Bombay Stock Exchange (BSE) at 9:15 am on Friday in Mumbai and ceremoniously marked the listing of NHAI InvIT Non Convertible Debentures.
At the occasion, Gadkari thanked all the institutional and retail investors for their overwhelming response and reposing faith in the credibility of National Highways Authority of India (NHAI).
He said the listing of InvIT NCDs on BSE marks the new dawn for People’s Participation (Jan-Bhagidaari) in Infra Funding, adding that 25% of NCDs are reserved for Retail Investors (retired citizens, salaried individuals, small and medium business owners).
The minister said he felt very happy that they could finally give the Retail Investors an opportunity to participate in the nation-building activity. The minimum investment slab is just Rs 10,000, he added.
The round 2 of InvIT has been oversubscribed almost seven times in just seven hours of its opening. It offers an effective yield of 8.05% per annum with the highest credibility, he added.
Today is a historic day and I feel very happy that we could finally give the Retail Investors (retired citizens, salaried individuals, small and medium business owners) an opportunity to participate in the Nation-Building activity. The minimum investment slab is just Rs 10,000/-. pic.twitter.com/Sf2W0YWMZK
— Nitin Gadkari (@nitin_gadkari) October 28, 2022
Gadkari said the internal rate of return in road infrastructure projects is very good. He said 26 greenfield expressways and several other projects are in pipeline which will provide more investment opportunities.
He asked investors to continue their support to infrastructure projects to realise the vision of five trillion-dollar economy. He said infrastructure projects are economically viable and will give good returns.
Bonds are a great opportunity to realize Prime Minister Narendra Modi Ji’s vision of AatmanirbharBharat, Gadkari stated.
He said huge investments in infrastructure, roads especially, are crucial to the socio-economic development of the country and that he was confident that more retail investors would take part in the next rounds and gradually overtake institutional investors.
