Mindspace Business Parks REIT rises nearly 11% in debut tradeNEW DELHI: Mindspace Business Parks REIT made its market debut on Friday, with a premium of nearly 11 per cent against its issue price of Rs 275 per unit. The units of the REIT listed at Rs 304, reflecting a gain of 10.54 per cent from the issue price on the BSE. Later, it touched a high of Rs 308.90, zooming 12.32 per cent.

On the NSE, it debuted at Rs 302, a rise of 9.81 per cent.

The Rs 4,500-crore public issue of Mindspace Business Parks REIT was subscribed nearly 13 times late last month.

Real estate investment trust (REIT), a popular instrument globally, was introduced in India a few years ago aimed at attracting investment in the real estate sector by monetising rent-yielding assets.

It helps unlock the massive value of real estate assets and enable retail participation.

The price band for its public issue was fixed at Rs 274-275 per unit.

A filing on the BSE earlier in the day noted that trading members of the exchange are informed that effective August 7, 2020, the units of Mindspace Business Parks REIT are listed and admitted to dealings on the exchange in the list of ‘IF’ group securities.

The offer was managed by Morgan Stanley India Company, DSP Merrill Lynch, Axis Capital, Citigroup Global Markets India, JM Financial, Kotak Mahindra Capital Company, CLSA India, Nomura Financial Advisory and Securities (India), UBS Securities India, Ambit Capital Private, HDFC Bank, IDFC Securities and ICICI Securities.





Source link