NHAI InvIT Issue Subscribed 7 Times

NHAI InvIT issue has seen healthy demand in the Retail category of investors with a total collection of Rs 593 Crore

MUMBAI/DELHI, Oct 18 (The CONNECT) – The Non-convertible Debenture (NCD) issue by National Highways Infra Trust (NHIT), sees early closure as the public issue has been oversubscribed 6.69 times on the back of interest shown by all the categories of investors.

The NCDs was subscribed 3.16 times in the retail category, 9.74 times in the Institutional,11.02 times in the Non-Institutional and 2.86 times in the HNI categories. The Issue opened on October 17, 2022 and closes today.

The issue has seen healthy demand in the Retail category of investors with a total collection of Rs 593 Crore. The issue also saw good interest from its other existing NCD investors.

The minimum application size was ₹ 10,000 (i.e. 10 NCDs) and thereafter in multiples of ₹ 1,000 (i.e. 1 NCD) thereof. For each NCD allotted, the investors will be allotted 3 STRPPs of different ISINs which are individually tradeable post listing. The NCDs are being issued in form of STRPP A with tenor of 13 years, STRPP B for tenor of 18 years, and STRPP C for tenor of 25 years. Interest payments is through various modes available.

The NCDs have been rated ‘CARE AAA/Stable’ by CARE Ratings Limited and ‘IND AAA/Stable’ by India Ratings and Research Private Limited.

Lead Managers for the Issue are JM Financial Limited, A.K. Capital Services Limited, ICICI Securities Limited, SBI Capital Markets Limited, and Trust Investment Advisors Private Limited. The credit rating agencies appointed are CARE Ratings Limited and India Ratings and Research Private Limited. Registrar to the Issue is KFin Technologies Limited.