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India Grid Trust start on a negative note, falls 6.3% on debut

At 12:40 pm, shares were down 1.5% at Rs 98.45 on BSE, having dropped to a low of Rs 94

Reuters  |  Mumbai 

India Grid Trust's shares fell as much as 6.3% on their debut on Tuesday, clouding the listing prospect for other infrastructure investment funds after raising Rs 2,250 crore ($349.68 million) in an initial public offering (IPO). At 12:40 pm, shares were down 1.5% at Rs 98.45 on BSE, having dropped to a low of Rs 94 as compared to their issue price of Rs 100. The company is only the second infrastructure investment fund to list in India after IRB InvIT Fund debuted in May with another lacklustre opening. Its shares are trading below the issue price after the fund raised $782 ...

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First Published: Tue, June 06 2017. 12:40 IST
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