The first IPO of Brookfield India Real Estate Trust has been bought in 9.5% so far on its first day of bidding, February 3. The public offer has got bids for 70.62 lakh shares against the IPO size of over 7.62 crore units, according to the data on the exchanges.
India’s only institutionally managed Real Estate Investment Trust is 3,800 crores through its IPO. It raised Rs 1,710 crore from anchor investors on February 2, a day before the issue opening.
The organization will use the money raised from the issue for reimbursement of the current obligation of resource SPVs and general corporate purposes. The value band for the public issue has been fixed at Rs 274-275 for every offer.
The reserved portion of other investors, corporates and individuals, was subscribed by 20 percent, while the institutional investors have subscribed 0.29 percent.