Brookfield India REIT share lists at marginal premium over issue price
On BSE, Brookfield India Real Estate Trust share opened at Rs 275.05. The price band of the IPO was fixed at Rs 274-275 apiece
BusinessToday.In | February 16, 2021 | Updated 15:20 IST
rookfield Asset Management backed Brookfield India Real Estate Trust (REIT), conducted its IPO from February 3 to February 5.
Brookfield India Real Estate Trust share listed with a marginal premium at Rs 281.70 on the National Stock Exchange today against issue price of Rs 275. On the BSE, the stock opened at Rs 275.05. The price band of the IPO was fixed at Rs 274-275 apiece.
Brookfield India Real Estate Trust REIT were trading at Rs 262.65 at 10:27 IST on the BSE, at a discount of 4.49% over the initial public offer price of Rs 275 per unit.
The stock was listed at Rs 275.05, at a premium of 0.02% to the initial public offer (IPO) price. So far the stock hit a high of Rs 280.05 and low of Rs 258.35. On the BSE, 2.44 lakh units were traded on the counter so far.
The IPO of Brookfield India Real Estate Trust was subscribed 7.94 times. The institutional investors category, comprising foreign institutional investors, domestic financial institutions, mutual funds, was subscribed 4.78 times. The other investors category, which includes corporates, individuals investors and others, was subscribed 11.74 times.
Brookfield India Real Estate Trust, the third such investment vehicle to publicly trade in the South Asian nation, fell on debut as investors fretted about the COVID-19 pandemicâs impact on the realty sector and the asset managerâs growth prospects.
Units of the real estate investment trust backed by Canadaâs Brookfield Asset Management Inc. fell 2.2 per cent from its issue price to 268.93 rupees in Mumbai on Tuesday, compared with a 0.1 per cent dip in the benchmark stock index. The last two REITs Embassy Office Parks and Mindspace Business Parks had gained 5 per cent or more on their first day of trading.