The initial public offering of Blackstone backed Mindspace Business Parks REIT witnessed a subscription of 1.01 times on Tuesday, the second day of bidding, data from stock exchanges show.
The reserved portion of institutional investors was subscribed 70% and that of other investors saw a subscription of 1.37 times.
The issue will close on 29 July and the price band has been fixed at ₹274-275 per share.
Last week, ahead of the launch of its IPO, Mindspace Business Parks REIT had raised ₹1,518.74 crore by allocating shares to institutional investors as part of the anchor allotment for the offer.
Mindspace REIT, backed by K Raheja Group and Blackstone, is the owner of a high-quality office portfolio in India that serves as an essential corporate infrastructure to multinational tenants and has significant embedded growth prospects. Mindspace portfolio consists of five integrated business parks with superior infrastructure and amenities and five quality independent offices aggregating to 29.5 million square feet (msf) of total leasable area.
Mindspace Business Parks REIT has a portfolio of 29.5 million sq. ft of commercial properties located across major cities, such as Mumbai, Pune, Chennai and Hyderabad, out of which around 24.5 million sq. ft area has been constructed.
This article was first published on livemint.com.