HomeConstructionInfrastructure

NHAI offers three additional roads to its InvIT totalling 247 km

Views: 97
0 0
Read Time:1 Minute, 47 Second
NHAI offers three additional roads to its InvIT totalling 247 km

The government-owned National Highways Authority of India announced on Friday that it has given an additional three roadways totaling 247 kilometres to its Infrastructure Investment Trust as part of the government’s monetisation policy (InvIT).

The National Highways Authority of India (NHAI) also said in a statement that its InvIT has announced a payout of Rs 0.79 paisa per unit to its unit holders for the fiscal year ending March 31, 2022.
Initially, the InvIT had a portfolio of five operational toll roads with a total length of 390 kilometres, which were spread across Gujarat, Karnataka, Rajasthan, and Telangana.

For these routes, the NHAI had issued fresh 30-year concessions.

According to the statement, the NHAI InvIT issued 59.52 crore units and distributed Rs 47.02 crore to investors.

Advertisements

This first distribution will bolster investors’ faith in NHAI InvIT as it reaches a critical milestone on its path to becoming a major vehicle to assist NHAI’s monetisation initiatives, according to the company.

The units of NHAI InvIT were offered on the National Stock Exchange and the Bombay Stock Exchange in November 2021, at a price of Rs 101 per unit, with an Enterprise Value of Rs 8,012 crore.

With the success of NHAI InvIT, NHAI chairperson Alka Upadhyaya stated the state-owned agency has continued to deliver on its pledges under the National Monetisation Pipeline (NMP).

She noted that this will go a long way toward realising the country’s aim of constructing world-class and sustainable National Highway infrastructure.

Because it has the greatest share under the NMP, NHAI launched its InvIT as a way to monetise operating roads.

Two foreign pension funds, the Canada Pension Plan Investment Board and the Ontario Teachers’ Pension Plan Board, were anchor investors in NHAI InvIT’s maiden offering last year.

The balance units were purchased by a diverse group of domestic institutional investors, including pension funds, insurance companies, mutual funds, banks, and financial organisations, according to the statement.

Construction, Infrastructure and Mining Group Media Publications
General News Platforms – IHTLive.com
Entertainment News Platforms – https://anyflix.in/
Legal and Laws News Platforms – https://legalmatters.in/
Podcast Platforms – https://anyfm.in/

Happy
Happy
0 %
Sad
Sad
0 %
Excited
Excited
0 %
Sleepy
Sleepy
0 %
Angry
Angry
0 %
Surprise
Surprise
0 %

Average Rating

5 Star
0%
4 Star
0%
3 Star
0%
2 Star
0%
1 Star
0%

Leave a Reply

Your email address will not be published. Required fields are marked *