Raajmarg Infra Investment Trust Units Soar on Market Debut
Raajmarg Infra Investment Trust units saw a notable 8% increase on their trading debut. The initial public offering (IPO) was a significant success, with the fund offering aimed at investing in toll road projects in multiple Indian states. The IPO was heavily oversubscribed, signifying strong market interest.
- Country:
- India
Raajmarg Infra Investment Trust made a striking debut on the stock market, as its units surged by 8% during Tuesday's trading session. Initially priced at Rs 100, the units opened on the BSE at Rs 108.
Meanwhile, trading commenced at Rs 107 on the NSE, resulting in a 7% hike in the unit's value. The state's National Highways Authority of India-sponsored trust boasts a market capitalization of Rs 6,375.60 crore following its fervent trading activity.
The trust's initial public offering was met with overwhelming demand, being subscribed 13.74 times from March 11 to March 13. Raajmarg proposes investments in five toll roads across four Indian states, operating under a Toll-Operate-Transfer model based on concessions by the NHAI.
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