Indiabulls trust confirms dividend yield of up to 9.8%

The India-focused property trust sets the IPO price range at S$1.00-S$1.10 for a total deal size of up to $213 million.

Indiabulls Properties Investment Trust IPIT has set the price range for its initial public offering at S$1.00 to S$1.10 for a total deal size of between S$262.5 million and S$288.8 million $193 million to $213 million.

The bottom end of the range is equal to the assumed IPO price in the preliminary prospectus lodged with the Singapore regulators in early May and confirms that the trust could offer an initial dividend yield of up to 9.8% for the fiscal...

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