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The ₹4,500-crore IPO of Mindspace Business Parks REIT has been subscribed by 13 times at the end of the IPO period. According to exchange data, it has been subscribed 12.96 times, receiving bids for 87.78 crore units against an offer size of 6.77 crore units. The issue came out with a price band of ₹274-275.
This positive response to the REIT will help build further confidence amongst global investors and attract them for long term commitment to the market, Shishir Baijal, of Knight Frank India, said.
Nish Bhatt of Millwood Kane International, said some concerns remain on tenancy levels given the current pandemic, as more and more Indian and global companies are allowing their staff to work from home and it may affect the demand for office space and its appreciation value in the short-term.
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