Citius Transnet InvIT IPO Opens with 67% Subscription on Day 1
Citius Transnet InvIT IPO Day 1: Issue booked 67% so far; check GMP, issue price and other key details
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The initial public offering (IPO) of Citius Transnet Investment Trust opened on April 17, 2023, and has received a 67% subscription by 4 PM on the first day. The IPO consists of a fresh share sale of 11.05 crore shares valued at ₹1,105 crore (approximately $133 million USD).
- 01Citius Transnet InvIT IPO opened on April 17, 2023, and will close on April 21, 2023.
- 02The IPO has garnered bids for 4.1 million shares, achieving a 67% subscription rate.
- 03The price band for the IPO is set between ₹99 and ₹100 per share.
- 04Proceeds from the IPO will be used for acquisitions and general corporate purposes.
- 05The grey market premium (GMP) for the IPO is currently nil.
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The initial public offering (IPO) of Citius Transnet Investment Trust (InvIT) opened for bidding on April 17, 2023, and is set to close on April 21, 2023. The IPO, which involves a fresh share sale of 11.05 crore shares worth ₹1,105 crore (approximately $133 million USD), has seen a strong demand, with a subscription rate of 67% as of 4 PM on the first day. Institutional investors have booked 30% of their reserved shares, while the quota for retail investors has been subscribed 1.11 times. The price band for the shares is fixed at ₹99 to ₹100 each. The funds raised will be utilized for the acquisition of securities from SRPL Roads Private Ltd and other identified projects, as well as for general corporate purposes. Notably, the grey market premium for the IPO is currently nil, indicating a potential listing at par with the offer price. Axis Capital, Ambit, and ICICI Securities are managing the issue.
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The successful subscription of the Citius Transnet InvIT IPO could enhance investment in transport infrastructure across India, potentially benefiting local economies and job creation.
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