National Stock Exchange (NSE) facilitated the single largest debt issue by an INIVIT (Infrastructure Investment Trust). The INVIT issue was done by Larsen & Toubro on the NSE EBP platform to finance the road assets acquisition of Sadbhav Engineering, which has been under deep financial troubles for a long time. The L&T sponsored INVIT allotted bonds to the tune of Rs.1675 crore and these bonds will carry a coupon of 9.04% and will mature after 18 years in 2038. This will be a landmark deal as it will set the tone for many more such infrastructure companies to monetize their asset portfolios to reduce their asset base and improve the ROI. SEBI had recently raised the leverage from 49% to 70%. The cost of an INVIT is high and it remains to be seen how companies can make margins.