IRB InvIT lists at 1.5% premium at Rs 102.50 per share on NSE : 18 May 2017

IPO

IRB InvIT Fund made its debut on the NSE with a premium of 1.5%, after successfully closing its initial public offer earlier this month. The stock of the company opened at Rs 102.50 per share on the NSE.

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

The offer had a price band of Rs100-102. The issue was open to bidding on 3-5 May.

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.

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