First InvIT makes tepid debut


IRB InvIT Fund, the first in the infrastructure investment trusts space, made a tepid debut on the bourses with the stock closing on a flat note. Shares of IRB InvIT listed at Rs.103, up 1.2% on BSE against the issue price of Rs.102.The stock later ended just a tad lower than the issue price -a loss of 0.2%. During the day, the scrip touched a high of Rs.105 and a low of Rs.100. The stock fell by 2.3% in intra-day trade. At NSE, the scrip ended at Rs.101.80, down 0.2%.
On the volume front, 168 lakh shares of the company were traded on the BSE and over 7 crore shares changed hands at the NSE during the day .

The InvIT Fund, sponsored by engineering company IRB Infrastructure Developers, commands a market valuation of Rs.5,909 crore.

IRB chairman and MD Virendra Mhaiskar said, “The trust will be perpetual and IRB will keep adding projects to it as and when they become operational to offer growth opportunities and decent returns to the unit holders.“




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