NHAI aims for Rs 30-bn infrastructure financing via bond market

18 Oct 2023 CW Team

DME Development, a division of the National Highways Authority of India (NHAI), has announced its plans to generate Rs 30 billion by entering the bond market for the first time in this fiscal year. It was stated that DME, a special-purpose vehicle established by the NHAI in August 2020 for constructing the Delhi-Mumbai expressway, which spans across Delhi, Rajasthan, Madhya Pradesh, Gujarat, and Maharashtra, is considering this financial move. In March, it was reported that DME had successfully garnered Rs 23.55 billion through 10-year bonds at a semi-annual coupon rate of 7.89%. Additionally, in February, it had managed to secure Rs 36.84 billion through 10-year bonds at a semi-annual coupon rate of 7.82%. The company is presently exploring the possibility of raising approximately Rs 30 billion through the issuance of 10-year bonds. It is contemplating the option of inviting bids for the issuance later this month.

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