NHAI files papers with SEBI to raise Rs 10,000 cr through bonds to finance various projects

NHAI has filed papers for 'public issue of taxable, secured redeemable non-convertible bonds in the nature of debentures up to Rs 10,000 crore'.

Press Trust of India November 22, 2018 15:48:32 IST
NHAI files papers with SEBI to raise Rs 10,000 cr through bonds to finance various projects

New Delhi: The National Highways Authority of India (NHAI) has filed draft papers with markets regulator SEBI to raise up to Rs 10,000 crore through bonds to finance its various projects.

NHAI files papers with SEBI to raise Rs 10000 cr through bonds to finance various projects

Representational image. Reuters.

NHAI has filed papers for "public issue of taxable, secured redeemable non-convertible bonds in the nature of debentures up to Rs 10,000 crore".

The funds will be used through the issuance of bonds in one or more tranches.

Proceeds of the issue will be utilised towards part-financing of different projects including Bharatmala Pariyojana as well as other operational, administrative and financial purposes, the draft papers filed with SEBI showed.

Under the Bharatmala Pariyojana, the government plans to build 50 new national corridors and connect 550 district centres with national highways, focusing on optimising the efficiency of freight and passenger movement across the country by bridging critical infrastructure gaps through effective interventions.

Updated Date:

Subscribe to Moneycontrol Pro at ₹499 for the first year. Use code PRO499. Limited period offer. *T&C apply