You are here: Home » Markets » IPOS » News
Business Standard

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

Institutional investors category was oversubscribed 10.81 times and other investors 5.89 times

Irb Invit Fund

Press Trust of India  |  New Delhi 

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.

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.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Wed, May 17 2017. 13:48 IST