Raajmarg Infra Investment Trust InvIT IPO price band: The Raajmarg Infra Investment Trust InvIT IPO price band has been fixed in the range of ₹99 to ₹100 per unit. The Raajmarg Infra Investment Trust InvIT IPO date of subscription is scheduled for Wednesday, March 11 and will close on Friday, March 13. The allocation to anchor investors for the Raajmarg Infra Investment Trust InvIT IPO is scheduled to take place on Tuesday, March 10. The Raajmarg Infra Investment Trust InvIT IPO lot size is 150 units and in multiples of 150 units thereafter.
Raajmarg Infra Investment Trust InvIT IPO has reserved 75% of the shares in the public issue for qualified institutional buyers (QIB), and 25% for non-institutional Institutional Investors (NII).
Tentatively, Raajmarg Infra Investment Trust InvIT IPO basis of allotment of shares will be finalised on Wednesday, March 18, and the company will initiate refunds on Friday, March 20, while the shares will be credited to the demat account of allottees on the same day following refund. Raajmarg Infra Investment Trust InvIT share price is likely to be listed on BSE and NSE on Tuesday, March 24.
Raajmarg Infra Investment Trust InvIT IPO details
According to the Red Herring Prospectus (RHP), the total size of Raajmarg Infra Investment Trust’s IPO amounts to ₹6,000 crore, an increase from the originally planned ₹5,700 crore noted in the draft papers submitted in January.
Previously, the NHAI established Raajmarg Infra Investment Managers Pvt. Ltd. (RIIMPL) to serve as the investment management entity for the Raajmarg Infra Investment Trust.
The public InvIT intends to tap into the monetization potential of National Highway assets while establishing a high-quality, long-term investment vehicle mainly aimed at retail and domestic investors.
RIIMPL is a joint initiative with equity contributions from prominent banks and financial institutions such as State Bank of India, Punjab National Bank, NaBFID, Axis Bank, Bajaj Finserv Ventures Ltd., HDFC Bank, ICICI Bank, IDBI Bank, IndusInd Bank, and Yes Bank.
(more to come)