IRB InvIT Fund to list on bourses tomorrow

By Selene 0

New Delhi: IRB InvIT Fund will make its stock market debut on Thursday after successfully closing its initial public offer earlier this month.

The IPO of IRB InvIT Fund, the first in the InvIT space, was subscribed 8.57 times. The institutional investors category was subscribed 10.81 times and other investors 5.89 times.

The offer had a price band of Rs100-102.

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 to bidding on 3-5 May.

First Published: Wed, May 17 2017. 02 49 PM IST