Business EconomyPosted at: Apr 25 2017 7:25PM

IRB InvIT Fund to come out with IPO on May 3

Mumbai, Apr 25 (UNI) The IRB InvIT Fund, which is registered as Infrastructure Investment Trust, under the InvIT regulations in India, will come out with an initial public offer (IPO) of 34,761,770 equity shares to raise the capital core
The issue, fixed in a price band of Rs 100 to Rs 102 per unit, with minimum of 10,000 units and in multiples of 5,000 units thereafter, will open on May three and close on May five.
Briefing media persons here today about IPO, company chairman-cum-managing director Virendra Mhaiskar said, "The issue is being made through the book-building process and in compliance with the InvIT regulations, wherein not more than 75 per cent of the issue shall be available for allocation on the proportionate
basis to institutional bidders.
He further said as there was not a single listed infrastructure investment trust in India until now, no comparison of a previous initial public offer of units of an infrastructure investment trust was available in terms of issue price and listing date.
Accordingly, it was not possible to provide an industry comparison in relation to the Trust, he informed.
The IRB Infrastructure Developers Limited, ATR Infrastructure Private Limited and Ideal Road Builders Private Limited are the selling unitholders of IPO, Mr Mhaiskar added.
UNI ST SS NP1922

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