The National Highways Authority of India (NHAI) has started the process to raise about Rs 40 billion through a bond issue in the domestic market, the process for which has already begun with the selection of lead bankers, including Axis Bank and SBI Caps.
“All the necessary clearances, including approval from the Department of Economic Affairs and Ministry of Road Transport and Highways, for the bond issue are in place and the ticket size would be big,” a senior official said.
The authority, which has the approval to raise Rs 100 billion in the current financial year, plans to raise only about Rs 40 billion in the first tranche for which the legal documentation is underway.
If retail investors will also be eligible to participate in the bond issue is yet to be finalised even as the road minister, Nitin Gadkari, recently said that they should invest in NHAI bonds to get greater returns. Read More
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