NHAI Information Memorandum
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Private & Confidential Not for Circulation NHAI BONDS SERIES - XXI (Section 54 EC of IT Act, 1961) 2020-21 Date of Issue : 1st April, 2020 NATIONAL HIGHWAYS AUTHORITY OF INDIA (An autonomous body under the Ministry of Road Transport & Highways, Government of India) Head Office : G-5 & 6, Sector 10, Dwarka, New Delhi-110 075 INFORMATION MEMORANDUM FOR PRIVATE PLACEMENT OF NON-CONVERTIBLE REDEEMABLE BONDS WITH BENEFITS UNDER SECTION 54EC OF INCOME TAX ACT, 1961 FOR LONG TERM CAPITAL GAINS ON TAP ON TDS Highest Credit Rating by CARE Ltd., CRISIL Ltd., ICRA Ltd. and India Rating & Research Pvt. Ltd. Deemed Date of Allotment shall be the last day of each month Note : This Information Memorandum is neither a prospectus nor a statement in lieu of prospectus is only an information brochure intended for private use and should not be construed to be prospectus and / or an invitation to the public for subscription to bonds. NHAI reserves the right to close the issue at its discretion. NHAI can also at its sole and absolute discretion change the terms of the offer either through issue of information memorandum containing revised terms and conditions or by making an announcements on website of issuer. The revised terms shall be applicable only to bonds allotted in respect of applications made after notification of the revised terms . Job No. : # 74304 NATIONAL HIGHWAYS AUTHORITY OF INDIA - 54EC CAPITAL GAIN BONDS (Series-XXI) TABLE OF CONTENTS Page No. DISCLAIMER ................................................................................................................................................................................ 2 DEFINITIONS ................................................................................................................................................................................ 3 Part I : PRIVATE PLACEMENT STRUCTURE PRESENT PRIVATE PLACEMENT ............................................................................................................................................... 4 OBJECTS OF THE PRIVATE PLACEMENT .................................................................................................................................. 4 HIGHLIGHTS OF THE INSTRUMENT ........................................................................................................................................... 4 PRIVATE PLACEMENT PROGRAMME ......................................................................................................................................... 5 CREDIT RATING ............................................................................................................................................................................ 5 ALLOTMENT OF BONDS .............................................................................................................................................................. 5 ISSUANCE OF LETTER OF ALLOTMENT& BOND(S) CERTIFICATE ................................................................................................... 5 LISTING ......................................................................................................................................................................................... 5 WHO CAN APPLY .......................................................................................................................................................................... 5 TERM AND MODE OF PAYMENT ................................................................................................................................................. 6 RTGS DETAILS OF COLLETING BANK ....................................................................................................................................... 6 DOCUMENTS TO BE PROVIDED BY ALL INVESTORS .............................................................................................................. 7 ADDITIONAL DOCUMENTS TO BE PROVIDED BY INVESTORS OTHER THAN INDIVIDUALS ............................................... 7 HOW TO APPLY ............................................................................................................................................................................. 7 REGISTRARS ................................................................................................................................................................................ 7 PART II : CONFIDENTIAL INFORMATION MEMORANDUM/MEMORANDUM OF PRIVATE PLACEMENT AUTHORITY FOR THE PRIVATE PLACEMENT ........................................................................................................................... 8 NUMBER OF BONDS .................................................................................................................................................................... 8 FORM AND DENOMINATION ........................................................................................................................................................ 8 INTEREST ON APPLICATION MONEY ......................................................................................................................................... 8 REFUND ........................................................................................................................................................................................ 8 PAYMENT PROCEDURE ............................................................................................................................................................... 8 PAYMENT OF INTEREST .............................................................................................................................................................. 8 MODE OF INTEREST PAYMENT .................................................................................................................................................. 8 PAYMENT OF PRINCIPAL ............................................................................................................................................................ 9 PAYMENT ON REDEMPTION & EFFECT OF HOLIDAYS & EXTINGUISHMENT ....................................................................... 9 PAYMENT OF FINAL INTEREST & TAXATION ............................................................................................................................. 9 EXPLANATION .............................................................................................................................................................................. 10 BONDS IN DEMATERIALIZED FORM .......................................................................................................................................... 11 JOINT APPLICATION .................................................................................................................................................................... 11 ISSUE OF DUPLICATE BOND CERTIFICATES ........................................................................................................................... 11 SECURITY ..................................................................................................................................................................................... 12 TRUSTEES .................................................................................................................................................................................... 12 RIGHT TO ACCEPT OR REJECT ANY APPLICATION ................................................................................................................. 12 WITHDRAWAL OF APPLICATION ................................................................................................................................................. 12 LIMITATION OF LIABILITY ............................................................................................................................................................. 12 FURTHER BORROWINGS ............................................................................................................................................................ 12 TRANSFER OF BONDS ................................................................................................................................................................ 12 NOMINATION ................................................................................................................................................................................. 12 SUCCESSION/TRANSMISSION ................................................................................................................................................... 13 RIGHTS OF THE BONDHOLDERS .............................................................................................................................................. 13 MODIFICATION OF RIGHTS ......................................................................................................................................................... 13 REGISTER OF BONDHOLDERS .................................................................................................................................................. 13 PERMISSION/CONSENT FROM PRIOR CREDITORS ............................................................................................................... 14 IMPERSONATION ........................................................................................................................................................................