NHAI Chairman Santosh Kumar Yadav expressed satisfaction with the response, stating, "This unique initiative sets a benchmark in the sector and encourages participation from diverse investors." Similarly, NHAI Member (Finance) and DMEDL Chairman NRVVMK Rajendra Kumar highlighted the strong demand as a testament to investor confidence in balancing infrastructure growth with environmental responsibility.
The Rs 7.75 billion issuance included a base size of Rs 5 billion with a green-shoe option to accommodate oversubscriptions up to Rs 2.75 billion, offering a yield of 7.23% per annum. Conducted under a closed bidding system, the proceeds will fund environmentally friendly initiatives, including: - Avenue and median plantations - Construction of animal underpasses - Natural stormwater drainage - Solar-powered street lighting - Waste recycling and reuse - Rainwater harvesting
Incorporated in August 2020, DMEDL serves as a Special Purpose Vehicle (SPV) for financing, constructing, and operating the Delhi-Mumbai Greenfield Expressway. With a AAA credit rating from CRISIL, CARE, and India Ratings, DMEDL has raised Rs 430 billion of its Rs 480 billion target through loans and bonds for the Delhi-Mumbai Expressway project.
This milestone underscores DMEDL’s commitment to integrating sustainability into India’s ambitious infrastructure development. (ET)