5/02/2021 4:26:01 PM | Source: Angel Broking Ltd
Brookfield IPO subscription update By Yash Gupta, Angel Broking
Below are Views On Brookfield IPO subscription update By Mr. Yash Gupta Equity Research Associate, Angel Broking Ltd
Brookfield REIT IPO subscribed more than 110%, received very good response from Institutional as well as retail investors. The iPO received cumulative bids for 8.14 Crores shares from Institutional and Non institutional till Day 3 morning, we expect participation from institutional investors to increase further on Day 3. Today is the last day for bidding for the Brookfield REIT IPO.
Brookfield REIT owns an initial portfolio of 4 large campus format office parks which are located in Mumbai, Gurugram, Noida and Kolkata with an initial portfolio size of 14.0 Msf, comprising 10.3 Msf of completed area, 0.1 under development and 3.7 Msf of future development.
We expect listing gains to be very limited upto 10%-15%. Given the uncertainties, weak financials and high debt on book we would recommend a “Neutral” rating on the issue. Long term investors who want to add REIT in their portfolio can apply for the IPO.
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