Page 4 - Invit

Country's maiden InvIT offering garners good response

The country's maiden offering of infrastructure investment trust (Invit) garnered encouraging response, opening a new capital raising avenue for infrastructure and real estate companies. The Rs 5,000-crore initial public offer (IPO) by IRB InvIT Fund on Friday garnered eight times more demand than units on offer, attracting bids worth nearly Rs 22,000 crore. Given the attractive projected yield on offer, the IPO saw heavy demand from overseas investors. The institutional portion of the offering saw 11 times subscription, while the non-institutional segment witnesses 6 times subscription. Nearly, half of the bids in the institutional portion came from foreign institutional investors (FIIs), while domestic institutions were seen relatively cautious. High networth individuals (HNIs) also made aggressive bids, anticipating good listing gains."The issue saw good response from all categories of investors. This issuance opens up a new avenue in infrastructure financing introducing the ...