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NHAI raises Rs 12.17 billion through InvIT
The National Highways Authority of India through its latest Infrastructure Investment Trust (InvIT) has raised Rs 12.17 billion to fund road projects.
Infrastructure Investment Trusts are instruments on the pattern of mutual funds, designed to pool money from investors and invest in assets that will provide cash flows over a period of time.
"(The) ministry is thankful to all investors who have reposed faith in NHAI latest InvIT issue. Issue has been fully subscribed before its closing. NHAI has raised Rs 12.17 billion (excluding its own share of Rs 213 crore)," the Ministry Road Transport and Highways (MoRTH) said in a tweet on Monday.
Earlier, a senior road ministry official had said the government will tap the capital market in October to raise around Rs 25 billion to fund three road projects. Last year, NHAI's first InvIT raised more than Rs 50 billion.
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