Summary
The National Highways Authority of India (NHAI) on Monday filed draft papers with markets regulator Sebi for floating an Infrastructure Investment Trust (InVIT) through which it seeks to raise Rs 5,100 crore. InvITs are instruments on the pattern of mutual funds and are designed to pool small sums of money from a number of investors to invest in assets that give cash flow over a period of time.
NHAI plans to mop up total of Rs 5,100 crore through fresh issue, as per the draft papers filed with the Securities and Exchange Board of India (Sebi).
In addition, there would be an offer-for-sale (OFS). However, the OFS amount has not been s......