India's Raajmarg Infra Investment Trust Jumps After $643 Million IPO

Dow Jones03-24

By Kimberley Kao

Raajmarg Infra Investment Trust units jumped in their debut in India.

The units on Tuesday rose as much as 8.0% to 108 rupees, equivalent to $1.16, from its initial public offering price of 100 rupees. They were last 6.1% higher at 106.08 rupees, outperforming the benchmark Sensex's 1.3% advance.

The trust raised 60.0 billion rupees in the IPO.

The offering was oversubscribed by institutional and corporate investors, according to data from the National Stock Exchange of India.

Raajmarg InvIT raised 17.28 billion rupees from 73 anchor investors.

The infrastructure investment trust is sponsored by National Highways Authority of India and has an initial portfolio of five toll roads across four Indian states, according to its IPO document.

Write to Kimberley Kao at kimberley.kao@wsj.com

(END) Dow Jones Newswires

March 24, 2026 03:05 ET (07:05 GMT)

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