Shares of IRB InvIT Fund made a soft debut at the bourses on Thursday, rising over one per cent, against the issue price of Rs 102.
The stock listed at Rs 103.25, up 1.22 percent, as against the issue price on the BSE. It later touched a high of Rs 105, reflecting a gain of 2.94 percent.
At the NSE, the stock opened at Rs 102.
The company’s market valuation currently stands at Rs 5,883.95 crore.
The IPO of IRB InvIT Fund, the first in the InvIT space, was oversubscribed 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 issue was open to bidding on May 3-5.
Capitalstars Financial Research Private Limited is a research house and an investment advisory carrying out operations in the Indian Equities and Commodity market.We also provide 2 days free trial to our client.Join our services and trade with us.
GET MORE DETAILS HERE:-