Dinesh Kamath's news item 'JNPT’s ambitious plan' that was published in Newsband

JNPT’s ambitious plan

By Dinesh Kamath

JNPT: Jawaharlal Nehru Port Trust (JNPT), which operates the Navi Mumbai Port, plans to raise up to Rs 2,000 crore through tax-free bonds.

The net proceeds will be primarily used for dredging works to deepen and widen the Mumbai harbour channel and JN Port’s navigational channel. These would also be used for other projects, in relation to the port operations.

This issue is open to qualified institutional buyers, domestic companies, high net worth individuals and retail individual investors. This is a public issue of tax-free bonds. It is only a Rs 2,000-crore issue and the only issue from a port with an ‘AAA’ rating. Instruments with such ratings are considered to have the highest degree of safety, and carry the lowest credit risk.