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Expect to get Cabinet nod for InvIT by Sept; plan to raise Rs 75K crore from market in FY20: NHAI Chief

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.

July 10, 2019 / 03:53 PM IST

The National Highways Authority of India (NHAI) expects to get Cabinet nod for floating its infrastructure investment trust (InvIT) in two to three months, its Chairman N N Sinha said on July 10.

To fund the country's ambitious highways building plans, including Bharatmala, NHAI also plans to mobilise Rs 75,000 crore from the market this fiscal, he said.

"This is the first time we are attempting something like this (InvIT) so cannot say firmly when the trust will take shape. We expect to get Cabinet approval in two to three months and implementation will take four to five months," Sinha said on the sidelines of an event here.

He said the NHAI board has already approved the InvIT and talks are on with market regulator SEBI for its approval.