NHAI files papers with Sebi to raise ₹10,000 crore via bonds1 min read . Updated: 22 Nov 2018, 04:19 PM IST
NHAI has filed papers for 'public issue of taxable, secured redeemable non convertible bonds in the nature of debentures upto 10,000 crore'
New Delhi: The National Highways Authority of India (NHAI) has filed draft papers with markets regulator Sebi to raise up to ₹ 10,000 crore through bonds to finance its various projects.
NHAI has filed papers for “public issue of taxable, secured redeemable non convertible bonds in the nature of debentures upto ₹ 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, government plans to build 50 new national corridors and connect 550 district centres with national highways, focusing on optimising efficiency of freight and passenger movement across the country by bridging critical infrastructure gaps through effective interventions.
This story has been published from a wire agency feed without modifications to the text.