New Delhi: The National Highways Infra Trust ( NHIT ) on Thursday announced its first bond issue to raise 1,500 crores, with a quarter of the proposed fundraising reserved for retail investors.
The retail portion of the non – convertible debenture ( NCD ) issue is expected to be around Rs 375 crore and the common citizen can invest Rs 10,000 or more with an assured annual return of a little over 8 %. The government said this is being done to allow common citizens to benefit from infrastructural growth and get good returns.
The NHIT, tasked with the monetization of road assets and financing the highway projects, said the issue will open on Monday.
Announcing the issue, transport and highways minister Nitin Gadkari said NHIT IS looking to raise an additional Rs 3,800 crore and the government was keen that senior citizens and the salaried benefit from higher returns than investing in fixed deposits. Earlier this month, NHIT raised Rs 1,430 crore from institutional investors.