Government is looking to take National Highways Authority public: Nitin Gadkari
Union minister Nitin Gadkari on Monday said government wants to take the National Highways Authority (NHAI) public and is working on the same.
“It (NHAI IPO) is in the process now. I’m thinking, but I need approval from the finance ministry,”he said without spelling out details like the timing, maintaining that “it is in the process”.
The department of investment and public asset management in the finance ministry looks at divestment processes.
Addressing an event by the Indo-American Chamber of Commerce, he made a passing reference to listing NHAI and added that government is confident of getting investor subscriptions of up to Rs 10 trillion.
The remarks were in the backdrop of impressive investor response to the Rs 1,560-crore IPO of Cochin Shipyard that was oversubscribed 76 times recently.
Reiterating that he wants to use public money to build infrastructure, especially if banks are reluctant to do so, Gadkari said senior citizens can be given an additional coupon of 0.5 per cent.
Last week he had said he was against using foreign funds to build large infra projects but wanted to scoop up funds from the common-man.
Making public his reservations with bankers, who he claimed are taking up to 12 months for financial closure of a …read more
