Inland Waterways Authority of India raises Rs 660 crore through bonds

The proceeds are intended to be used to develop the National Waterways during 2017-18

In line with the Union government’s thrust on fund raising by tapping the capital markets, the Inland Waterways Authority of India (IWAI) on Friday announced it has raised Rs 660 crore through bonds.

This would be the second department under Union Minister Nitin Gadkari to raise finances via the capital market, during the current fiscal, after the National Highways Authority of India (NHAI) raised Rs 3,000 crore worth of masala bonds at the London Stock Exchange in May this year.

The resources raised by IWAI way of these fully-serviced government bonds will be in addition to the budgetary support from