India’s IRB InvIT Fund $782 million IPO subscribed 8.6 times

The IPO of the IRB InvIT Fund, the country’s first InvIT to hit the primary market, closed on a strong note on May 5, 2017 with the issue being oversubscribed by 8.6 times. The issue received bids for 2,151.1 million units compared to the issue size of 250.9 million units, excluding the anchor book portion. The portion reserved for institutional investors was oversubscribed by nearly 11 times and the portion for other investors including corporates and high net worth individuals was oversubscribed by close to 6 times. The Government of Singapore, the Platinum International Fund, the Birla Sun Life Mutual Fund and the Deutsche Global Infrastructure Fund were among the anchor investors.