Raajmarg Rises in Debut After Largest India IPO of Year

Raajmarg Infra Investment Trust’s units rose as much as 8% in their trading debut Tuesday after an initial public offering that raised 60 billion rupee ($649 million), India’s largest so far this year.

The InvIT units rose to as much as 108 rupees in Mumbai, compared with an offer price of 100 rupees. The sale by National Highways Authority of India’s InvIT was subscribed 13.94 times this month.