Union Minister for Road, Transport and Highways, Nitin Gadkari on Monday said that the ministry is planning to open the National Highways Infra Trust (NHAI InvIT) bonds every 15 days with interests of up to 8.50 per cent.
The government had launched the bond for the InvIT model at the stock exchange, said Union Minister Nitin Gadkari at Business Today Budget Roundtable 2023.
“One and half month ago, we launched our bond for InvIT model at the Mumbai Stock Exchange. Actually, the bond was prescribed for 10 days. But the first day, within seven hours, it was seven times oversubscribed. And now in our bond, we are giving 8.50 per cent interest per year. There is a scheme that we will deposit the interest monthly in their account even if they can invest ₹10,000 in this bond,” he said.
Gakari added that salaried people and pensioners can invest in NHAI InvIT bond and the interest rate is higher.
“We don’t have any problem with investment from abroad. All international financial agencies are keenly interested to invest in India,” he added.
Infrastructure Investment Trusts (InvITs) 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. InvITs invest in either road toll projects or power projects
Gadkari said huge investments in infrastructure especially roads, are crucial to the socio-economic development of our country and he was confident that more retail investors will take part in next rounds and gradually overtake institutional investors.
On 13 October, Gadkari had said that NHAI’s InvIT is looking to raise additional ₹3,800 crore.
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