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May 18, 2017 10:05 AM IST | Source:

IRB InvIT, first of its kind, debuts at Rs 102.5/share; premium of 1.5%

The fund had successfully closed its IPO earlier this month, with the issue being oversubscribed 8.57 times

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IRB InvIT Fund, the first infrastructure trust to list on the exchanges, made its debut on the exchanges on Thursday at a price of Rs 102.50 per share.

The infrastructure investment trust had successfully closed its initial public offering (IPO) earlier this month, with the issue being oversubscribed 8.57 times. The issue was open to bidding between May 3 and May 5 and the offer had a price band of Rs 100-102.

The fund raised nearly Rs 2,100 crore from anchor investors allotting nearly 20.53 crore units at Rs 102 apiece on Tuesday.

Meanwhile, the institutional investors’ category was oversubscribed 10.81 times and other investors 5.89 times.

IDFC Bank, Credit Suisse Securities and ICICI Securities were the lead managers to the offer.

At 10:01 hrs, IRB InvIT was quoting at Rs 104.50, up Rs 2.50, or 2.45 percent on the BSE.

(With inputs from PTI)
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