First Indian infrastructure trust makes tepid debut
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INDIA'S first infrastructure investment trust posted a lacklustre trading debut on Thursday, potentially acting as a dampener for similar upcoming listings of high-yield securities that aim to tap investors' appetite for stronger returns.
IRB InvIT Fund traded flat in the afternoon compared to its IPO (initial public offering) price of 102 rupees per share, reversing gains of as much as 2.9 per cent shortly after the opening. Volume was heavy at more than 51 million shares on India's National Stock Exchange, making it the top traded stock.
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