NHAI TO GET RS 4200 CRORE FROM MONETISATION OF TWO OPERATIONAL HIGHWAYS
News: NHAI will get Rs 4,200 crore as upfront payment from monetisation of two operational highway stretches with a combined length of 200 km under the TOT model. As per the sources, National Investment and Infrastructure Trust (NIIF) has offered to pay the highest Rs 3,011 crore for a 72-km stretch on NH-19 in Uttar Pradesh for the ninth TOT bundle. Sekura roads has offered Rs 1,711 crore for the tenth bundle, which consists of a 125-km stretch on NH-36 in Madhya Pradesh.
Views: The bids are largely in line with the Street expectations. However, the NHAI Board will meet soon to evaluate the highest bids for the two stretches. Nevertheless, the monetisation proceeds are likely to be used to lay newer highway stretches and retire debt that mounted to Rs 3.5 trillion at FY22-end.
ICICI Securities Ltd. ( I-Sec). Registered office of I-Sec is at ICICI Securities Ltd. - ICICI Centre, H. T. Parekh Marg, Churchgate, Mumbai - 400020, India, Tel No : 022 - 2288 2460, 022 - 2288 2470.I-Sec is a SEBI registered with SEBI as a Research Analyst vide registration no. INH000000990.. The contents herein above shall not be considered as an invitation or persuasion to trade or invest. I-Sec and affiliates accept no liabilities for any loss or damage of any kind arising out of any actions taken in reliance thereon. The information mentioned herein above is only for consumption by the client and such material should not be redistributed.
The information contained herein is strictly confidential and meant solely for the selected recipient and may not be altered in any way, transmitted to, copied or distributed, in part or in whole, to any other person or to the media or reproduced in any form, without prior written consent of ICICI Securities Limited. The contents of this mail are solely for informational purpose and may not be used or considered as an offer document or solicitation of offer to buy or sell or subscribe for securities or other financial instruments or any other product. While due care has been taken in preparing this mail, I-Sec and affiliates accept no liabilities for any loss or damage of any kind arising out of any inaccurate, delayed or incomplete information nor for any actions taken in reliance thereon. This mail is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of or located in any locality, state, country or other jurisdiction, where such distribution, publication, availability or use would be contrary to law, regulation or which would subject I-Sec and affiliates to any registration or licensing requirement within such jurisdiction