अपरिवर्तनीय रोख्यांच्या (एमसीडी) विक्रीचा प्रस्ताव 17 ऑक्टोबर 2022
रोजी खुला होणार
कुपन दर 7.90% असणार जो अर्ध-वार्षिक कालावधीने द्येय असेल/प्रभावी प्राप्ती 8.05% प्रति वर्ष
• ₹1000 दर्शनी मूल्य असलेल्या सुरक्षित गुणांकन प्राप्त, नोंदणीकृत आणि विमोचनिय अपरिवर्तनीय रोख्यांच्या(एनसीडी) (तीन स्वतंत्र हस्तांतरणीय आणि विमोचनीय प्राथमिक भाग-एसटीआरपीपी) एसटीआरपीपीची सार्वजनिक विक्री ज्यात एसटीआरपीपी-ए ₹ 300/ दर्शनी मूल्य, एसटीआरपीपी-बी दर्शनी मूल्य ₹ 300/ आणि एसटीआरपीपी-सी दर्शनी मूल्य ₹ 400/- समाविष्ट
• सदर एनसीडींच्या विक्रीमध्ये मूळ आकारमान रू.750 कोटी असेल परंतू त्यावर रू.750 कोटी पर्यंत अतिरिक्त विक्री स्वीकारून एकूण आकारमान रू.1500 कोटी एवढे असेल
• एनसीडींना केअर रेटिंग्ज कडून ‘केअर एएए/स्टेबल’ आणि इंडिया रेटिंग्ज ऍंड रिसर्च तर्फे ‘आयएनडी/स्टेबल’ असे गुणांकन प्राप्त
• प्रभावी उत्पन्न 8.05% प्रति वर्ष असेल तर देय कुपन रेट 7.90% असेल जो अर्ध-वार्षिक तत्त्वावर देय असेल
• एनसीडींची विक्री सोमवार 17 ऑक्टोबर, 2022 पासून सुरू होईल आणि सोमवार 7 नोव्हेंबर 2022 रोजी समाप्त होईल पण त्याआधीही विक्री समाप्त करण्याचा पर्याय असेल
• प्रत्येक वितरीत एनसीडीत गुंतवणूकदाराला वेगळे आयएसआयन असलेले 3 एसटीआरपीपी वितरीत करण्यात येतील जे नोंदणीनंतर स्वतंत्रपणे विक्रेय असतील
• एनसीडींची नोंदणी बीएसई लिमिटेड आणि नॅशनल स्टॉक एक्सचेंज लिमिटेडवर करणे प्रस्तावित आहे
• ‘प्रथम येणार्‍यास प्राधान्य’ या तत्त्वावर वाटप
#For further details please refer Prospectus dated October 11, 2022
मुंबई, 13 ऑक्टोबर, 2022: राष्ट्रीय महामार्ग पायाभूत सुविधा न्यास नियमावली अंतर्गत आणि भारतीय राष्ट्रीय महामार्ग प्राधिकरण (भारत सरकार आधिन स्वायत्त प्राधिकरण) पुरस्कृत राष्ट्रीय महामार्ग पायाभूत सुविधा न्यास यांच्याकडून सुरक्षित, गुणांकन प्राप्त, नोंदणीकृत, अपरिवर्तनीय कर्जरोख्यांच्या (एनसीडी) सार्वजनिक विक्रीसाठी प्रस्ताव दिनांक 11 ऑक्टोबर 2022 रोजी सादर उद्देशपत्रिकेद्वारे सादर केला आहे ज्यात ₹1000 दर्शनी मूल्य असलेल्या सुरक्षित, गुणांकन प्राप्त, नोंदणीकृत आणि विमोचनिय अपरिवर्तनीय रोख्यांची (एनसीडी) विक्री तीन स्वतंत्र हस्तांतरणीय आणि विमोचनीय प्राथमिक भाग-एसटीआरपीपी ज्यात एसटीआरपीपी-ए ₹ 300/ दर्शनी मूल्य, एसटीआरपीपी-बी दर्शनी मूल्य ₹ 300/ आणि एसटीआरपीपी-सी दर्शनी मूल्य ₹ 400/- असे एसटीआरपीपी समाविष्ट आहेत. एनसीडींची विक्री सोमवार 17 ऑक्टोबर, 2022 पासून सुरू होईल आणि सोमवार 7 नोव्हेंबर 2022 रोजी समाप्त होईल पण त्याआधीही विक्री समाप्त करण्याचा पर्याय असेल
सदर विक्रीचे एकूण आकारमान रू.750 कोटी आहे ज्यात रू.750 कोटींची अतिरिक्त विक्री स्विकारण्याचा पर्याय असेल ज्यातून प्रस्तावित विक्रीचे एकूण मूल्य रू.1,500 कोटी असेल. या एनसीडींचा 7.9% कुपन रेट अर्ध-वार्षिक तत्त्वावर द्येय असेल आणि सर्व श्रेणीत प्रभावी उत्पन्न प्रति वर्ष 8.05% असेल. सदर कर्जरोख्यांची नोंदणी बीएसई आणि एनएसईवर करणे प्रस्तावित आहे तर बीएसई हा या विक्रीसाठी निर्देशित स्टॉक एक्सचेंज असेल. या एनसीडीजना केअर रेटिंग्ज कडून केअर ‘एएए/स्टेबल’ आणि इंडिया रेटिंग्ज ऍंड रिसर्च तर्फे ‘आयएनडी/स्टेबल’ असे गुणांकन प्राप्त झाले आहे.
किमान ₹ 10,000 (किमान 10 एनसीडी) साठी अर्ज करता येईल आणि त्यानंतर रू.1,000 (1 एनसीडी) च्या पटीत अर्ज करता येईल. वाटप करण्यात आलेल्या प्रत्येक एनसीडीत गुंतवणूकदाराला 3 एसटीआरपी देण्यात येतील ज्यांचे आयएसआयएन हे वेगळे असतील आणि नोंदणीनंतर त्यांची वैयक्तिक विक्री करता येऊ शकेल. एनसीडीज एसटीआरपीपी ए, एसटीआरपीपी बी आणि एसटीआरपीपी सी च्या रूपात जारी करण्यात येतील ज्यांचा कालावधी अनुक्रमे 13 वर्ष, 18 वर्ष आणि 25 वर्ष असा असेल. व्याज प्राप्त करण्यासाठी विविध पर्याय उपलब्ध असतील.
याद्वारे प्राप्त निधीचा वापर एनएचआयटीच्या प्रकल्पांसाठीच्या एसपीव्हीजच्या पत पुरवठा, एनएचआयटी कडून घेण्यात आलेल्या ब्रिज लोन सुविधेच्या परतफेडीसाठी (घेण्यात आलेली असल्यास) आणि साधारण कॉर्पोरेट उद्देशांसाठी करण्यात येईल. एनएचआयटीच्या एसपीव्हीजना निधी उपलब्धतेने सवलत करारातील अटींची पूर्तता करणे शक्य होईल आणि सदर सवलत कराराअंतर्गत आवश्यक हक्क प्राप्त करणेही एसपीव्हीजना शक्य होऊ शकेल.
जे.एम. फायनांशियल लिमिटेड, ए. के.कॅपिटल सर्व्हिसेस लिमिटेड, आयसीआयसीआय सिक्युरिटीज लिमिटेड, एसबीआय कॅपिटल मार्केट लिमिटेड आणि ट्रस्ट इन्व्हेस्टमेंट ऍडव्हायझर्स हे प्रस्तावाचे लीड मॅनेजर आहेत. केअर रेटिंग लिमिटेड आणि इंडिया रेटिंग अँड रिसर्च प्रायव्हेट लिमिटेड या पत गुणांकन संस्था आहेत. केफिन टेक्नॉलॉजी हे प्रस्तावाचे रजिस्ट्रार आहेत.
The terms of the NCDs offered in the Issue are set out below:
Series I
Type of Instrument Secured NCDs
Face Value / Issue Price of NCDs (₹ / NCDs) ₹1,000 per NCD comprising of
1 STRPP A of Face value of ₹ 300,
1 STRPP B of Face value of ₹ 300; and
1 STRPP C of Face value of ₹ 400
Minimum Application ₹10,000 (10 NCDs comprising of 10 STRPP A, 10 STRPP B, 10 STRPP C)
In Multiples of thereafter (₹) ₹1,000 (1 NCD comprising of 1 STRPP A, 1 STRPP B, 1 STRPP C)
STRPP with different ISIN$ STRPP A STRPP B STRPP C
Tenor 13 Years 18 Years 25 Years
Face value per STRPP (₹) ₹ 300 ₹ 300 ₹ 400
Aggregating to ₹ 1,000 (i.e. 1 NCD)
Coupon (%) for NCD Holders in Category I, Category II, Category III & Category IV 7.90% p.a. payable semi-annually 7.90% p.a. payable semi-annually 7.90% p.a. payable semi-annually
Effective Yield (% per annum) for NCD Holders in Category I, Category II, Category III & Category IV 8.05% 8.05% 8.05%
Frequency of Interest Payment Semi-Annual Semi-Annual Semi-Annual
Mode of Interest Payment Through Various Modes available
Maturity (from the Deemed Date of Allotment) 13 Years 18 Years 25 Years
Redemption Date/ Redemption Schedule ** Staggered Redemption by Face Value for each respective STRPP as per “Principal Redemption Schedule and Redemption Amounts” Staggered Redemption by Face Value for each respective STRPP as per “Principal Redemption Schedule and Redemption Amounts” Staggered Redemption by Face Value for each respective STRPP as per “Principal Redemption Schedule and Redemption Amounts”
Amount (₹ / NCD) on Redemption Daye/ Maturity for NCD Holders in Category I, Category II, Category III & Category IV ** Six(6) annual payments of ₹50 each, starting from 8th Anniversary* until Maturity Six(6) annual payments of ₹50 each starting from 13th Anniversary* until Maturity 8 annual payments of ₹50 each starting from 18th Anniversary* until Maturity
Put and Call Option Not Applicable Not Applicable Not Applicable
*Of Deemed Date of Allotment
** For further details, please refer “Issue Structure – Principal Redemption Schedule and Redemption Amounts” on page 270 of this Prospectus and illustrative cash flows given in Annexure I of this Prospectus.
$ Upon Allotment, an Investor will be Allotted all 3 STRPPs of an NCD against the equivalent amount invested by such Investor subject to minimum Application size.
#With respect to each STRPP, coupon will be paid on Semi-Annual basis every 6 months from the Deemed Date of Allotment on the outstanding face value of the relevant STRPP. The coupon accrued on every Redemption Date will be paid along with the Redemption Amount as per the Redemption Schedule for each respective STRPP. The last coupon payment under such STRPP will be made at the time of Maturity (final redemption date) of the said STRPP.
Subject to applicable tax deducted at source (TDS), if any. For further details, please see the section entitled “Statement of Possible Tax Benefits” on page 67 of this Prospectus
Please note that the Basis of Allotment under the Issue will be on the basis of date of upload of each application into the electronic book of the Stock Exchanges in accordance with the SEBI Operational Circular. However, from the date of oversubscription and thereafter, the allotments will be made to the applicants on proportionate basis. For further details refer section titled “Issue Procedure” on page 272 of the Prospectus dated October 11, 2022.
About National Highways Infra Trust (NHIT):
National Highways Infra Trust (NHIT) was settled as a contributory irrevocable trust under the Indian Trust Act, 1882 and is registered as an Infrastructure Investment Trust (InvIT) under SEBI (Infrastructure Investment Trust) Regulations 2014, as amended. Currently, five road assets with a total length of approx. 389 km, namely, (i) Abu Road – Swaroopganj section; (ii) Chittorgarh – Kota and Chittorgarh Bypass section; (iii) Kothakota Bypass – Kurnool section; (iv) Maharashtra/Karnataka Border (Kagal) – Belgaum section; and (v) Palanpur/Khemana Abu Road section have been transferred to the InvIT. The InvIT, through a project SPV, National Highways Infra Projects Private Limited (SPV owned by National Highways Infra Trust), has entered into a concession agreement with NHAI for a period of 30 years on a TOT basis. The InVIT was listed on November 10, 2021. All five project assets have received the appointed date as December 16, 2021, and have commenced tolling operations. NHIT is proposing to bring additional three road assets with total length of 247 Kms under InvIT, i.e., Agra Bypass, Borkhedi- Kelapur- Telengana state border, and Shivpuri-Jhansi section, and has entered into a Concession Agreement with NHAI for 20 years.Disclaimer
National Highways Infra Trust has proposed, subject to receipt of requisite approvals, market conditions and other considerations, to make a public offer of secured, rated, listed, redeemable non-convertible debentures (comprising three separately transferable and redeemable principal parts (“STRPP”, as detailed hereinafter) namely 1 STRPP A of face value of ₹ 300/-, 1 STRPP B of face value of ₹ 300/- and 1 STRPP C of face value of ₹ 400/-, for an amount aggregating upto ₹ 15,000 million and has filed the prospectus dated October 11, 2022 (“Prospectus”) with BSE Limited (“BSE”) and National Stock Exchange of India Limited (“NSE”) and the Securities and Exchange Board of India (“SEBI”). The Prospectus is available on the website of the SEBI at www.sebi.gov.in as well as on the websites of the lead managers, JM Financial Limited, A.K. Capital Services Limited, ICICI Securities Limited, SBI Capital Markets Limited, and Trust Investment Advisors Private Limited, at www.jmfl.com, www.akgroup.co.in, www.icicisecurities.com, www.sbicaps.com and www.trustgroup.in respectively, website of the Investment Manager(acting on behalf of the Trust) at www.nhaiinvit.in and the websites of the stock exchange(s) at www.nseindia.com and www.bseindia.com, respectively. All investors proposing to participate in the public issue of NCDs by National Highways Infra Trust should invest only on the basis of information contained in the Prospectus. Please see section entitled “Risk Factors” beginning on page 16 of the Prospectus for risk in this regard. Potential investors should not rely on the Draft Prospectus/Prospectus for any investment decision.
LISTING: The NCDs of the Trust offered through this Prospectus are proposed to be listed on BSE Limited (“BSE”) and National Stock Exchange of India Limited (“NSE”) (collectively, the “Stock Exchanges”). The Trust has received in principle approvals from BSE and NSE for listing of the NCDs to be allotted pursuant to the Issue through their letters dated October 10, 2022 bearing number DCS/BM/PI-BOND/014/22-23 and dated October 10, 2022 bearing number NSE/LIST/D/2022/0147, respectively. For the purposes of the Issue, the Designated Stock Exchange is BSE.
GENERAL RISKS: Investment in debt securities involve a degree of risk and investors should not invest any funds in such securities unless they can afford to take the risk attached to such investments. Investors are advised to take an informed decision and to read the risk factors carefully before investing in this offering. For taking an investment decision, investors must rely on their examination of the issue including the risks involved in it. Specific attention of investors is invited to statement of risk factors contained under “Risk Factors” and “Material Developments” on page 16 and 250 respectively. These risks are not, and are not intended to be, a complete list of all risks and considerations relevant to the debt securities or investor’s decision to purchase such securities. This Prospectus has not been and will not be approved by any regulatory authority in India, including the Securities and Exchange Board of India (“SEBI”), the Reserve Bank of India (“RBI”), RoC or any stock exchange in India nor do they guarantee the accuracy or adequacy of this document
DISCLAIMER CLAUSE OF BSE:
“It is to be distinctly understood that the permission given by BSE Limited should not in any way be deemed or construed that the Draft Offer Document has been cleared or approved by BSE Limited nor does it certify the correctness or completeness of any of the contents of the Prospectus. The investors are advised to refer to the Draft Offer Document for the full text of the Disclaimer clause of the BSE Limited.”
DISCLAIMER CLAUSE OF NSE:
“It is to be distinctly understood that the permission given by NSE should not in any way be deemed or construed that the Offer Document has been cleared or approved by NSE nor does it certify the correctness or completeness of any of the contents of the Offer Document. The investors are advised to refer to the Offer Document for the full text of the ‘Disclaimer Clause of NSE”.
DISCLAIMER CLAUSE OF CARE Ratings Limited: “The ratings issued by CARE Ratings Limited are opinions on the likelihood of timely payment of the obligations under the rated instrument and are not recommendations to sanction, renew, disburse or recall the concerned bank facilities or to buy, sell or hold any security. These ratings do not convey suitability or price for the investor. The agency does not constitute an audit on the rated entity. CARE Ratings Limited has based its ratings/outlooks based on information obtained from reliable and credible sources. CARE Ratings Limited does not, however, guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions and the results obtained from the use of such information. Most entities whose bank facilities/instruments are rated by CARE Ratings Limited have paid a credit rating fee, based on the amount and type of bank facilities/instruments. CARE Ratings Limited or its subsidiaries/associates may also be involved with other commercial transactions with the entity. In case of partnership/proprietary concerns, the rating /outlook assigned by CARE Ratings Limited is, inter-alia, based on the capital deployed by the partners/proprietor and the current financial strength of the firm. The rating/outlook may undergo a change in case of withdrawal of capital or the unsecured loans brought in by the partners/proprietor in addition to the financial performance and other relevant factors. CARE Ratings Limited is not responsible for any errors and states that it has no financial liability whatsoever to the users of CARE Ratings Limited’s rating. Our ratings do not factor in any rating related trigger clauses as per the terms of the facility/instrument, which may involve acceleration of payments in case of rating downgrades. However, if any such clauses are introduced and if triggered, the ratings may see volatility and sharp downgrades.”
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