The Rs 4,500-crore public issue of Mindspace Business Parks REIT was subscribed nearly 13 times late last month.

This is the second REIT listing on the exchanges, after Embassy Office Parks REIT which was listed in March 2019 following fund raising of Rs 4,750 crore via IPO.

Sharad Mittal of Motilal Oswal Real Estate Fund feels from Mindspace, investors can earn a return of 11-12 percent of which 7-8 percent which accrues from rental yield is as stable as debt.

Mindspace REIT public issue consists of a fresh issue of Rs 1,000 crore and an offer for sale of Rs 3,500 crore.

The issue will close on July 29 and the bids can be made for minimum 200 units and in multiples of 200 units thereafter.

From an investor standpoint, the REIT product is a must-have in any portfolio, said Sharad Mittal, CEO at Motilal Oswal Real Estate Fund.

IIFL Securities has recommended the issue for investors seeking returns similar to debt asset class.

Mindspace has so far raised Rs 2,643.74 crore from strategic and anchor investors, which is 58.74 percent of the total issue size of Rs 4,500 crore.

The stock opened with a premium of Rs 245, or 58 percent, on the BSE against its issue price of Rs 425 per share, and rose to Rs 710 intraday, i.e. 67.1 percent higher

The listing premium was much higher than the grey market premium (of around Rs 160-180 per share) as well as analysts#39; expectations of Rs 130-175 per share.

Ajcon Research Rossari Biotech Started in CY03 as “Rossari Lab tech”, a partnership firm, Rossari was converted to Company in CY09 by Mr. Edward Menezes and Mr. Sunil Chari.

The maximum bids received at lower end of price band of Rs 12-13 per share. In fact, the anchor book, through which the lender had received Rs 4,098 crore, was also subscribed at Rs 12 per share.

The public issue consists of a fresh issue of Rs 50 crore and an offer for sale of 1.05 crore equity shares by its promoters Edward Menezes and Sunil Chari.

In past 3 years (FY17-FY20), company has delivered stupendous growth on revenue, EBITDA and net profit level, which grew at a CAGR of 42 percent, 57 percent and 60 percent respectively.

Emkay Global Financial Rossari Biotech is planning to raise ~Rs4.95bn through a mix of fresh issue (Rs500mn, 1.17mn shares) combined with Offer for Sale (OFS) route (~Rs4.45bn, 10.5mn shares), to the public.