Mumbai: The country's First Infrastructure Investment Trust (InvIT) issue opened this morning and is expected to evoke good response from investors.
By noon, out of the total issue size of 250 million units, bids were received for around 3 million units.
The issue, which is sponsored by IRB Infrastructure, is expected mop up over Rs 5000 crore.
The Fund raised Rs 2100 crore from anchor investors ahead of the IPO. Around 20.53 crore units at an average price of Rs 102 each, have been allotted to 28 anchor investors, InvIT Fund said.
Some of the leading anchor investors who have been allotted units are Government of Singapore, Birla Sunlife Mutual Fund, HDFC Standard Life Insurance and Deutsche Global Infrastructure Fund.
The issue, which comes with a price band of Rs 100 - 102 per unit, closes on 5 May 2017. The units are tradeable in the market and will be listed on both Bombay and National stock exchanges.
The InvIT Trust will use the proceeds from the IPO to mostly repay the debt of its special purpose vehicles created for toll-road projects.
Meanwhile, shares of IRB Infrastructure Developers Limited are fairly steady today. After rising nearly 3% and hitting its highest mark in nearly 18 months early on in the session, the stock has pared some gains on profit taking.
From a low of Rs 177.50 it touched on 23 November 2017, IRB Infrastructure gained in strength gradually and hit a 52-week high of Rs 272.40. It is just slightly away from a high of Rs 289.40 it had touched in mid November 2014.
The stock's all-time high is Rs 312.80, climbed on 24 August 2010.
