Analysts’ concerns over the possible ‘stale’ pricing of 3i Infrastructure’s fund raise this week have not deterred investors with the placing drawing in £100m after costs. This is less than the £294m maximum the £3bn investment company might have been looking for, however.

A total of 30,915,990 new ordinary shares will be issued at 330p and begin trading next Tuesday.

The issue price offered a 3.4% discount to last Friday’s close and a 3.1% discount to the trust’s dividend-adjusted net asset value (NAV) at 30 September.

Some analysts questioned the latter, saying the NAV issued with half-year results in November was out of date and the real NAV could be above the issue price, thereby diluting shareholders’ stakes. The closed-end fund revalues its portfolio twice a year, meaning the next update is two months away.

Liberum analyst Shonil Chande doubted these concerns this morning. ‘This placement represents an increase of share capital by 3.5% but will, according to our estimates, not result in any meaningful dilution in NAV.’

3i Infrastructure (3IN ) will use the money to repay some of its credit facility and provide funds for new investment.

Richard Laing, chair of 3IN’s board, said he was pleased at shareholders’ support. ‘The proceeds will provide the company with useful additional flexibility to fund attractive discretionary growth opportunities in our portfolio, such as a recent £28m commitment to acquire Future Biogas, which as a sister company to Infinis will form the largest producer of green gas in the UK.’

Shares in 3IN, one of the best performers in its sector over five years, eased half a penny to 332p.