National Highways Infrastructure Trust (NHIT), a registered infrastructure investment trust under the InvIT Regulations and sponsored by the NHAI, has filed its draft prospectus to raise ₹1,500 crore by issuing secured, rated, listed and redeemable non-convertible debentures.
The net proceeds are proposed to be utilised towards infusion of debt into the project SPV of NHIT, repayment of the bridge loan facility of NHIT (availed, if any), and general corporate purposes.
The Infusion of funds will help the SPV meet the obligations under the concession agreements and allow the project SPVs to acquire necessary rights under the concession agreement, the entity said in a statement.
The minimum subscription for public issue of debentures is 75% of the base issue size and the NCDs shall be listed within six working days from the issue closing date.
