New Delhi, Oct 12 (SocialNews.XYZ) National Highways Infra Trust (NHAI InvIT), the infrastructure investment trust sponsored by National Highway Authority of India (NHAI) to support the Central government's National Monetization Pipeline, has raised a sum of Rs 1,430 crore from domestic and international investors through placement of its units, for part funding its acquisition of three additional road projects from NHAI.
The placement of units with institutional investors, witnessed strong demand from both existing investors, who reposed their commitment by participating in the process, as well as new investors.
The units have been subscribed by a gamut of institutional investors including Canada Pension Plan Investment Board, Ontario Teachers' Pension Plan Board, State Bank of India, SBI Pension Fund, SBI Mutual Fund, IOCL Employee Provident Fund, L&T Staff Provident Fund, Rajasthan Rajya Vidyut Karamchari Pension Fund, TATA AIG and Star Union Daiichi Life Insurance. NHAI subscribed to the units through preferential allotment to maintain its unitholding of at least 15 per cent.
The units were subscribed through a book build process at Rs 109 per unit, at a premium over floor price of Rs 107.12 per unit.
In addition to the above, NHAI InvIT has also filed a prospectus with SEBI for issuance of Non-Convertible Debentures (NCDs) to raise Rs 1,500 crore.
The NCDs would carry a coupon of 7.90 per cent payable semi-annually and would be available for subscription by both retail and institutional investors.
Source: IANS
About Gopi
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz