NHAI InvIT files for Rs 15 billion NCD issue

The National Highways Authority of India (NHAI)-sponsored infrastructure investment trust (InvIT), the National Highways Infra Trust has filed draft papers with the market regulator for a Rs 15 billion NCD issue. This involves the public issue of secured rated, listed and redeemable NCDs with a face value of Rs 1,000 each, comprising three separately transferable and redeemable principal parts (STRPPs) – STRPP A with a face value of Rs 300, STRPP B with a face value of Rs 300, and STRPP C with a face value of Rs 400 – for Rs 15 billion.