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MUMBAI :
The preliminary public providing of Blackstone backed Mindspace Business Parks REIT witnessed a subscription of 1.01 occasions on Tuesday, the second day of bidding, information from inventory exchanges present.
The reserved portion of institutional buyers was subscribed 70% and that of different buyers noticed a subscription of 1.37 occasions.
The difficulty will shut on 29 July and the value band has been mounted at ₹274-275 per share.
Last week, forward of the launch of its IPO, Mindspace Business Parks REIT had raised ₹1,518.74 crore by allocating shares to institutional buyers as a part of the anchor allotment for the supply.
Mindspace REIT, backed by Okay Raheja Group and Blackstone, is the proprietor of a high-quality workplace portfolio in India that serves as an important company infrastructure to multinational tenants and has vital embedded development prospects. Mindspace portfolio consists of 5 built-in enterprise parks with superior infrastructure and facilities and 5 high quality impartial workplaces aggregating to 29.5 million sq. ft (msf) of complete leasable space.
Mindspace Business Parks REIT would be the second REIT to be listed in India, after Embassy REIT of ₹4,750 crore listed in March 2019.
Mindspace Business Parks REIT has a portfolio of 29.5 million sq. ft of business properties situated throughout main cities, reminiscent of Mumbai, Pune, Chennai and Hyderabad, out of which round 24.5 million sq. ft space has been constructed.
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