IndiGrid prices second Indian infrastructure trust

India's second infrastructure investment trust struggles after a disappointing trading debut by the first.

IndiGrid prices second Indian infrastructure trust

India Grid IndiGrid completed the country's second infrastructure investment trust InvIT on Friday, but struggled to build an outsized order book thanks to the lacklustre trading debut of the sector's first deal for IRB Infrastructure Developers.

IndiGrid began book building on Wednesday and bankers said the deal got off to a promising start, but then lost momentum after IRB InvIT listed on Thursday. InvITs are spin-offs by developers...

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