India’s first infrastructure investment trust (InvIT) from IRB Infrastructure Developers on Thursday made a tepid debut on the bourses. On BSE, the IRB InvIT Fund stock listed at Rs 103.25, up 1.22% against its issue price of Rs 102. It later ended at Rs 101.79, down 0.20%. On NSE, it had the issue price of Rs 102 and ended the session at Rs 101.70, 0.29% below its issue price. The IPO was subscribed by 8.53 times with investors bidding for 214.13 crore shares of the 25.09 crore shares on offer. The issue received bids for 147.94 crore shares from institutional investors against their quota of 13.69 crore shares.
IRB InvIT Fund
Non-institutional investors bid for 66.18 crore shares of the 11.40 crore shares reserved for them, or 5.8 times. On May 2, IRB Infrastructure Developers had raised Rs 2,094.46 crore from a clutch of 28 anchor investors. Investors include the government of Singapore, Platinum International Fund, BNP Paribas, Birla Sunlife, Deutsche Global, Morgan Stanley, among others.