IndInfravit bags $484m from first InvIT private placement

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By John Loh
08 May 2018

IndInfravit Trust lifted the gloom in India’s infrastructure investment trust market this week after its Rp32.3bn ($484m) private placement, a first for the asset class, drew in Allianz Capital Partners and Canada Pension Plan Investment Board.

The placement was fully subscribed at the end of last week following a one-day bookbuild with institutional investors, a banker on the deal said.

IndInfravit, a unit of Indian conglomerate Larsen & Toubro, had enlisted Citi and ICICI Securities as bookrunners for the fixed price offering. The ...

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