Mindspace Business Park REIT listed at a premium of 10.55 per cent
Mindspace Business Parks REIT made an impressive debut on the bourses on Thursday, as the stock got listed at Rs 304 on the BSE, a 10.55 per cent premium over the issue price of Rs 275. In intra-day trading, the stock rose as much as Rs 308.90, up 11.70 per cent from the issue price. Mumbai-based Mindspace operates as a real estate investment trust, and controls property with a total leasable area of 29.5 million square feet with tenants including Amazon.com and Barclays.
The Rs 4,500-crore Mindspace Business Parks REIT issue, which was open from July 27 to July 29, was subscribed 13 times. It received bids for 87,78,24,600 shares against the total issue size of 6,77,46,400 shares, with the institutional investors category seeing subscription of 10.61 times.
At 12:50 pm, the shares were priced at Rs 302.20 apiece, 9.89 per cent in the green as compared to issue price, but more than half a per cent below the listing price of Rs 304.
