Synopsis
The issue received applications for 60,59,44,400 units by 5:00 pm. The quota reserved for retail and corporate investors was subscribed 11.7 times, while institutional investors bid 4.78 times the reserved units.
Agencies
The low turnout by institutional investors is in line with usual trends as they usually bid for any IPO on the last day. The Brookfields REIT issue, which is the third ever REIT to be launched in India, is set to close on Friday.
NEW DELHI: The initial public offer (IPO) of Brookfield India Real Estate Trust was subscribed 7.9 times on the final day of the bidding process today, making it the third-ever successful REIT IPO in India.