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Friday, April 28, 2017

IRB InvIT Fund IPO to open on May 3

IRB InvIT Fund, which is sponsored by road developer IRB Infrastructure Limited will open its initial public offering for subscription on May 3, 2017

The issue comprised of a fresh issue aggregating up to Rs 4,300 crore by the Trust and an offer for sale of up to 3,47,61,770 units by IRB Infrastructure Developers, Modern Road Makers Private Limited, Aryan Toll Road Private Limited, ATR Infrastructure Private Limited and Ideal Road Builders Private Limited

The price band IRB InvFund IPO is fixed at Rs 100-102 per share. The bids can be made for a minimum of 10,000 units and in multiples of 5,000 units thereafter.

Minimum application size for bidders other than anchor investors and strategic investors bidding in the anchor investor portion is Rs.10 lakh

The issue is being made through the book building process and in compliance with the InvIT regulations, wherein not more than 75% of the issue shall be available for allocation on a proportionate basis to institutional bidders.

Further, not less than 25% of the issue shall be available for allocation on a proportionate basis to other bidders, in accordance with the InvIT regulations.
IRB Infrastructure, which is the investment manager, reserves the option to retain oversubscription of up to 25% of the issue size in accordance with the InvIT regulations. The issue will constitute at least 25% of the total outstanding units on a post-issue basis

Stay tuned to Indian IPO Blog for more on this IPO
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