NHIT update on institutional placement and proposed public issue of NCDs

The Board of National Highways Infra Investment Managers acting in the capacity of Investment Manager to National Highways Infra Trust (NHAI InvIT) at its meeting held on 11 October 2022 has approved the following:

1. In connection with the proposed private placement of the units of National Highways Infra Trust by way of institutional placement (the Offer), the Offer was opened on 30 September 2022 and the Offer was closed on 03 October 2022. The following items in relation to the Offer were considered and approved:

a. Determined and approved the allocation of 111,602,600 Units to Institutional Investors at an Offer Price of Rs. 109.00 per Unit;

b. Finalized and approved the confirmation of allocation note to be sent to eligible institutional investors, intimating them of the allocation of Units pursuant to the Offer; and

c. Approved and adopted the placement document dated 11 October 2022, in connection with the Offer.

In connection with the proposed public Issue of secured, rated, listed, redeemable, non convertible debentures of face value of Rs. 1000/- each, (comprising three separately transferable and redeemable principal parts (STRPP, as detailed hereinafter) namely 1 STRPP A of face value of Rs. 300/-, 1 STRPP B of face value of Rs. 300/- and 1 STRPP C of face value of Rs. 400/-, for an amount aggregating to Rs. 15,000 million by NHAI InvIT (Issue), the following items were considered and approved:

h - Appointment of Consortium Members and Public Issue Account Bank, Sponsor Bank and Refund Bank to the Issue.
h - Approval for execution of the Public Issue Account and Sponsor Bank Agreement, Consortium Agreement and the Debenture Trust Deed with the respective intermediaries.
h - Finalization of Monday, 17 October 2022 as the Issue Opening Date and Monday, 07 November 2022 as the Issue Closing Date.
h - Adoption of Prospectus to be filed with SEBI and to be submitted to the BSE and National Stock Exchange of India.

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