'NHAI InvIT looks to raise additional `3,800 cr'

New Delhi: The National Highways Infra Trust (NHAI InvIT) is looking to raise an additional Rs 3,800 crore funds, Road Transport and Highways Minister Nitin Gadkari said on Thursday.

Addressing an event organised by NHAI InvIT, Gadkari said of the additional fundraise, around Rs 1,500 crores are being garnered through an issue of non-convertible debentures (NCDs) with a long-dated maturity of 25 years.

These InvIT bonds will be listed on the BSE and the NSE, providing an opportunity for investors to trade and invest, he added.

NHAI InvIT is the infrastructure investment trust sponsored by the National Highway Authority of India (NHAI) to support the government's National Monetisation Pipeline (NMP).

Further, the minister said the Infrastructure Investment Trusts (InvITs), so far, has raised more than Rs 8,000 crore from foreign and Indian institutional investors.

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.

The minister said his focus is to pass InvITs' benefit to retired citizens and salaried class people as presently most of them are investing in fixed deposits, having comparatively lower returns.

"The minimum investment amount has been kept low at Rs 10,000, so that common man can participate

in it.

"With that in mind, 25 per cent of the NCD issue is being reserved for retail investors," Gadkari said.