NHAI plans to raise Rs 3,000 cr from second InvIT in January
ROADS & HIGHWAYS

NHAI plans to raise Rs 3,000 cr from second InvIT in January

The National Highways Authority of India (NHAI) has planned its second Infrastructure Investment Trust (InvIT) to raise Rs 3,000 crore in January 2022.

According to an official, two to three road projects would be taken for monetisation through the InvIT to be launched. The InvIT, launched in October, had a portfolio of five operating toll roads of 390 km in length. These five roads are in Gujarat, Karnataka, Rajasthan and Telangana. NHAI has granted a new concession period of 30 years for these roads.

The units have been issued under the private placement route in the upper band of 101 per unit. These units were listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).

The first InvIT brought two foreign pension funds, including Canada Pension Plan Investment Board and Ontario Teachers' Pension Plan Board, with 25% holding each.

These were listed with the domestic institutional investors, including pension funds, insurance companies, mutual funds, banks and financial institutions.

The InvIT, being a part of the government's scheme, plans to raise Rs 1.6 lakh crore by monetising 27,000 km of roads in the next four years under the National Monetisation Pipeline. The monetisation will be via toll-operate-transfer (ToT) and InvIT models.

Image Source

Also read: NHAI to increase size of InvIT to Rs 15,000 crore

The National Highways Authority of India (NHAI) has planned its second Infrastructure Investment Trust (InvIT) to raise Rs 3,000 crore in January 2022. According to an official, two to three road projects would be taken for monetisation through the InvIT to be launched. The InvIT, launched in October, had a portfolio of five operating toll roads of 390 km in length. These five roads are in Gujarat, Karnataka, Rajasthan and Telangana. NHAI has granted a new concession period of 30 years for these roads. The units have been issued under the private placement route in the upper band of 101 per unit. These units were listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). The first InvIT brought two foreign pension funds, including Canada Pension Plan Investment Board and Ontario Teachers' Pension Plan Board, with 25% holding each. These were listed with the domestic institutional investors, including pension funds, insurance companies, mutual funds, banks and financial institutions. The InvIT, being a part of the government's scheme, plans to raise Rs 1.6 lakh crore by monetising 27,000 km of roads in the next four years under the National Monetisation Pipeline. The monetisation will be via toll-operate-transfer (ToT) and InvIT models. Image Source Also read: NHAI to increase size of InvIT to Rs 15,000 crore

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