indiabulls real estate

The Reit-like vehicle, which invests in Indian properties, is able to raise $193 million after attracting 30 to 35 institutional investors and 1.4 times the order amount it needed.

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.

The trust could raise about $190 million based on an assumed offering price of S$1 per unit and become only the second Singapore property trust to offer exposure to India.