Gadkari hails retail segment role in NHAI InvIT success – 7 times subscription in 7 hours
MUMBAI, Oct 28 (The CONNECT) - Union Minister for Road Transport and Highways Nitin Gadkari rang the bell at Bombay Stock Exchange today in Mumbai to mark the listing of NHAI InvIT Non Convertible Debentures .
Secretary MoRTH and Chairman, NHAI Alka Upadhyaya was present along with other dignitaries on the occasion.
Gadkari said the listing of InvIT NCDs on Bombay Stock Exchange is historic as it marks the new dawn for People's Participation (Jan-Bhagidaari) in Infra Funding.
He said NHAI has reserved 25% of NCDs for Retail Investors. The round 2 of InvIT has been oversubscribed almost 7 times in just 7 hours of its opening. It offers an effective yield of 8.05% per annum with highest credibility, he added.
The Minister said he felt very happy that we could finally give the Retail Investors - including retired citizens, salaried individuals, small and medium business owners - an opportunity to participate in the Nation-Building activity. The minimum investment slab is just Rs 10,000.
Gadkari said internal rate of return in road infrastructure projects is very good. In all 26 greenfield expressways and several other projects are in pipeline which will provide more investment opportunities.
He asked investors to continue their support to infrastructure projects to realise the vision of 5-trillion-dollar economy of Prime minister Narendra Modi. He said infrastructure projects are economically viable and will give good returns.
Gadkari said Bonds are a great opportunity to realize Prime Minister Narendra Modi Ji's vision of AatmanirbharBharat. Huge investments in infrastructure especially roads, are crucial to the socio-economic development of our country, he said and expressed the confidence that retail investors will increasingly take part in next rounds and gradually overtake institutional investors.