IRB Infrastructure in April is planning to launch the country’s first infrastructure investment trust (InvIT). The Company in its draft red herring prospectus (DRHP) said that it has planned to raise as much as Rs 4300 crore for the InvIT, which was filed in September. Income-generating infrastructure assets are managed by the InvIT trusts, generally offering regular yield to investors and providing a liquid way of investing their funds in the infrastructure projects.
IDFC Bank, ICICI Securities, IIFL Holdings and Credit Suisse Securities have been appointed by the infrastructure company to manage the share sale, as per the DRHP.
SEBI in January had permitted mutual funds to invest in REITs (Real Estate Investment Trusts) and InvITs. While IRDA amended guidelines for insurance companies to invest in these asset classes, on March 14.
IRB Infrastructure Developers Ltd is currently trading at Rs 241.75, down by Rs 4.95 or 2.01% from its previous closing of Rs 246.7 on the BSE.
The scrip opened at Rs 246.8 and has touched a high and low of Rs 248.4 and Rs 241.4 respectively. So far 1020122(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 8670.27 crore.
The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 266.25 on 23-Sep-2016 and a 52 week low of Rs 177.5 on 23-Nov-2016. Last one week high and low of the scrip stood at Rs 249.55 and Rs 225.1 respectively.
The promoters holding in the company stood at 57.37 % while Institutions and Non-Institutions held 35.79 % and 6.84 % respectively. The stock is currently trading above its 50 DMA.