IRB InvIT Fund raises Rs 2,351 cr via institutional placement and preferential issue

IRB InvIT Fund raised Rs 2,351 cr through institutional placement of 31.75 crore units at Rs 63 each (Rs 2,000 cr) and a preferential allotment of Rs 351 cr to sponsor IRB Infrastructure Developers. Placement was at a 1.96% discount to the floor price. Funds will partly finance acquisition of two BOT highway assets (Solapur Yedeshi and Chittorgarh Gulabpura) from IRB Infrastructure Trust. Marquee allottees include Anahera Investment (FPI, 17.5%), Prazim Trading (DII), NPS Trust ICICI Pension Fund, NEO Alternatives AIF, and HSBC Mutual Fund.