NHAI files draft papers with SEBI for InVIT to raise Rs 5,100 crore
InvITs are instruments on the pattern of mutual funds and are designed to pool small sums of money from a number of investors to invest in assets that give cash flow over a period of time
PTI | April 5, 2021 | Updated 20:23 IST
n December 2019, the Union Cabinet had given nod to the NHAI to set up an InvIT and monetise national highway projects
The National Highways Authority of India (NHAI) on Monday filed draft papers with markets regulator Sebi for floating an Infrastructure Investment Trust (InVIT) through which it seeks to raise Rs 5,100 crore. InvITs are instruments on the pattern of mutual funds and are designed to pool small sums of money from a number of investors to invest in assets that give cash flow over a period of time.
NEW DELHI: The National Highways Authority of India (NHAI) on Monday filed draft papers with markets regulator Sebi for floating an Infrastructure Investment Trust (InVIT) through which it seeks to raise Rs 5,100 crore. InvITs are instruments on the pattern of mutual funds and are designed to pool small sums of money from a number of investors to invest in assets that give cash flow over a period of time. NHAI plans to mop up total of Rs 5,100 crore through fresh issue, as per the draft papers filed with the Securities and Exchange Board of India (Sebi). In addition, there would be an offer-for-sale (OFS). However, the OFS amount has not been specified in the draft papers.
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An arm of IL&FS has received Rs 1,804 crore as claim settlement from the National Highways Authority of India (NHAI). This will help the subsidiary address its Rs 3,500-crore debt. “The NHAI and ministry of road transport and highways have settled aggregate IL&FS claims of over Rs 1,804 crore across six road projects,” said an official statement.
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