Moneycontrol

Budget 2023Budget 2023

PARTNERS

  • Tata AIA Life Insurance
  • Hafele
  • Motilal Oswal
  • SMC Global Securities Limited
  • SBI Life
  • DSP Mutual Fund
Upcoming Event : LeapToUnicorn - mentoring, networking and fundraising for startups. Register now

IRB InvIT IPO sails through, oversubscribed 1.26 times

The initial public offer of IRB InvIT Fund was oversubscribed 1.26 times till afternoon trade on the last day of the offer today.

May 05, 2017 / 02:56 PM IST
Workers balance while installing steel rods to fortify the foundation of an elevated highway in Quezon City, metro Manila, Philippines January 25, 2017. Picture taken January 25, 2017. REUTERS/Romeo Ranoco - RTSXEPV

Workers balance while installing steel rods to fortify the foundation of an elevated highway in Quezon City, metro Manila, Philippines January 25, 2017. Picture taken January 25, 2017. REUTERS/Romeo Ranoco - RTSXEPV

The initial public offer of IRB InvIT Fund was oversubscribed 1.26 times till afternoon trade on the last day of the offer today.

The offer received bids for 31,50,35,000 shares against the total issue size of 25,09,90,397 shares, data available with the NSE till 1200 hours showed. IRB InvIT Fund on Tuesday raised around Rs 2,100 crore from anchor investors.

The IPO, the first in the InvIT space, has 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.