indiabulls-trust-prices-ipo-at-the-bottom

Indiabulls trust prices IPO at the bottom

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.
Indiabulls Properties Investment Trust IPIT has priced its initial public offering at the bottom of the indicated range at S$1.00 for a total deal size of S$262.5 million $193 million and a projected yield of 9.8% for the fiscal year to March 2010. The trust, which focuses on commercial property in India, is due to start trading in Singapore at 2pm on June 11.

The low-end pricing was widely expected, given the continued negative sentiment both for Singapore-listed real estate investment trusts Reits and for Indian stocks. The equity market recovery that began in mid-March and lasted through to early May or so depending on the market did, however, create a window of opportunity for...
¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222