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IRB Infrastructure Developers’ InvIT IPO got subscribed 0.07 times, or 7 per cent, on Day 1. While the institutional investors’ portion was subscribed 0.04 times, the non-institutional investors’ portion was subscribed 0.1 times.
IRB InvIT raised ₹2,094.5 crore from anchor investors ahead of the IPO. The trust will own 100 per cent in six operational build, operate, transfer (BOT) road assets.
IRB Infrastructure, the sponsor, plans to raise ₹5,033 crore from the listing of its InvIT in the price band of ₹100-102. Bids came in more at the lower end of the price band. The issue closes on May 5.
IRB will use about ₹3,300 crore of the proceeds to repay underlying debt associated with the assets and the balance to pay back sponsor debt.
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