New Delhi, Oct 6 (PTI) National Highways Infrastructure Trust (NHIT) on Thursday said it has filed draft papers with market regulator Sebi to raise up to Rs 1,500 crore by issuing non-convertible debentures.

NHIT currently owns, operates and maintains a portfolio of 5 initial toll roads, spanning 389 km in Gujarat, Rajasthan, Telangana and Karnataka.

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"National Highways Infrastructure Trust, a registered infrastructure investment trust under the InvIT Regulations, sponsored by NHAI (an autonomous authority of the GoI) has filed its draft prospectus for a public issue of secured, rated, listed, redeemable, non-convertible debentures," it said in a statement.

NHIT added that the issue will be for an amount aggregating up to Rs 1,500 crore.

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Non-convertible debenture (NCD) is a financial instrument that is used by companies to raise long-term capital. This is done through a public issue.

According to the statement, the lead managers for the issue are JM Financial Limited, AK Capital Services Limited, ICICI Securities Limited, SBI Capital Markets Limited, and Trust Investment Advisors Private Limited.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)