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Capital markets regulator Sebi's chief Tuhin Kanta Pandey on Thursday said there is a need to "accelerate" monetisation of government-held assets in sectors such as railways, roads, airports and energy to help funnel investor money into such projects.The career bureaucrat, who headed the Department of Investment and Public Asset Management before being appointed as a regulator, rued that a bulk of state governments are yet to draw plans on asset monetization and stressed that addressing this gap can help give boost to infrastructure creation by opening up resources. Infrastructure requires capital in "massive quantities", and the government and banks should not carry this burden by themselves, Pandey said, making a pitch for the capital markets as an alternative to gather the resources. He said the asset monetisation plan of the central government played a key role in the development of the market for infrastructure investment trusts (InvITs) in the past."Going forward, there is a need to accelerate asset monetization in various sectors such as roads, railways, ports, airports, energy, petroleum and gas and logistics," he said, addressing an event by the NaBFID.He said the asset monetization can happen through a slew of routes, including InvITs, real estate infrastructure trusts (REITs), public private partnerships or securitization. Pandey also said that while the amount raised through municipal bonds at Rs 3,134 crore through 21 issuances since 2017 may look impressive, there is a need to deepen and diversify the investor base by encouraging institutional investors like mutual funds, pension funds as well as retail investors to systematically allocate to infra securities."Relying solely on banks or government budgets exposes us to concentration risk. Markets, on the other hand, offer a palette of instruments like corporate bonds, index rates, municipal bonds," he said. Capital markets enforce discipline, transparency and governance through disclosure norms, independent audits and investor scrutiny, he said, adding that they act as "guardians of quality and credibility" in infrastructure projects. Meanwhile, speaking at the same event, NaBFID's managing director and chief executive Rajkiran Rai expressed concerns on the declining interest among scheduled commercial banks in the infrastructure lending space as compared to other sources like non bank finance companies and dedicated infrastructure debt funds. Bank lending has actually de-grown, while the same for the non-banks is growing at about 10 per cent, he said, adding that a "lot of push" is needed.

Shares of Jaykay Enterprises Ltd jumped 20% to hit the day’s high of Rs 193 per share on the BSE on September 18, after its step-down subsidiary, Allen Reinforced Plastics Limited, secured a fresh order from BrahMos Aerospace Private Limited.The order, valued at about Rs 94.45 crore including GST, is for the manufacture of composite parts, Jaykay Enterprises said in a filing to the stock exchanges. This development follows the Letter of Intent announced earlier on August 11, which has now materialised into a definitive order.The company said the contract is domestic in nature and will be executed as per the terms and conditions specified by BrahMos Aerospace. Jaykay Enterprises clarified that neither its promoter group nor group companies hold any interest in BrahMos Aerospace, and the transaction does not fall under related-party arrangements.Jaykay Enterprises is a diversified business group with operations in high-precision, 3D printing, and composite manufacturing, serving the healthcare, defence, and aerospace sectors. The company also works on engineering, digital printing, and AI-based solutions aimed at advancing automation and manufacturing processes.Last week, the company announced that its subsidiary, JK Digital & Advance Systems, entered into a Transfer of Technology (ToT) Agreement with the Central Scientific Instruments Organisation (CSIO), Chandigarh, a CSIR laboratory. The agreement relates to the indigenous manufacturing of advanced 3D-printed lattice orthopedic implants using additive manufacturing technology.This, it said, marks a step forward in Jaykay Enterprises’ efforts to develop indigenous solutions in the healthcare sector.Shares of the company closed at Rs 184.3, higher by 14.5% from the last close on the NSE. Jaykay Enterprises’ stock has rallied 100% in the past year and delivered a staggering 8,900% gain in the last five years.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)