IRB InvIT Fund: A new entrant in stock market from May18

Virendra D Mhaiskar, CMD, IRB Infrastructure Developers Limited (Photo: Kamlesh Pednekar)
IRB InvIT Fund,  a registered infrastructure investment trust under the InvIT Regulations,  will make its stock market debut tomorrow after successfully closing its initial public offer earlier this month.

 
IRB InvIT Fund is one of the largest infrastructure development and construction companies in India.

 
The IPO of IRB InvIT Fund, the first in the InvIT space, was oversubscribed about 8.57 times. The institutional investors category was oversubscribed 10.81 times and other investors 5.89 times. The offer had a price band of Rs 100-102.

 
InvITs or infrastructure investment trusts are those debt instruments that will be traded in the market and can act as investment vehicles for sponsors.

 
IDFC Bank, Credit Suisse Securities and ICICI Securities were the lead managers to the offer. The units are proposed to be listed on the BSE and the National Stock Exchange (NSE).

 
The issue was open for bidding from May 3-5.

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