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May 17, 2017 01:46 PM IST | Source: PTI

IRB InvIT Fund to list on bourses on May 18

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.

IRB InvIT Fund to list on bourses on May 18

IRB InvIT Fund will make its stock market debut on May 18 after successfully closing its initial public offer earlier this month. The IPO of IRB InvIT Fund, the first in the InvIT space, was oversubscribed 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 to bidding on May 3-5.
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