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Last Updated : Aug 07, 2020 10:18 PM IST | Source: PTI

Mindspace Business Parks REIT zooms over 10% in debut trade

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

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Mindspace Business Parks REIT made its market debut on Friday and closed with a premium of over 10 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. During the day, it touched a high of Rs 308.90, zooming 12.32 per cent. Later, it closed at Rs 303.87, up 10.49 per cent.

On the NSE, it closed at Rs 303, a gain of 10.18 per cent after debuting at Rs 302, a rise of 9.81 per cent.

The company's market valuation was at Rs 18,020.04 crore on the BSE.

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In volume terms, 18.45 lakh shares were traded on BSE and 2.70 crore on NSE.

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

REIT, a popular instrument globally, was introduced in India a few years ago and is aimed at attracting investments into 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.
First Published on Aug 7, 2020 10:17 pm
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