Home >Companies >News >Nomura, Capital Group buy 347 crore shares of Mindspace REIT
The Nomura Holdings Inc. logo is displayed outside a Nomura Securities Co. branch. (Bloomberg)
The Nomura Holdings Inc. logo is displayed outside a Nomura Securities Co. branch. (Bloomberg)

Nomura, Capital Group buy 347 crore shares of Mindspace REIT

Nomura Investment bought over 62 lakh shares at an average price of 302.45 aggregating to 189.43 crore in Mindspace Business Parks REIT, while Capital Income Builder purchased more than 51 lakh shares at an average price of 303.44 a piece amounting to 157.22 crore

Mumbai: Funds managed by Nomura and Capital group, on Friday, picked up shares worth over 347 crore in Mindspace Business Parks REIT through open market transactions, on the first day of trading for the newly listed company.

Nomura Investment bought over 62 lakh shares at an average price of 302.45 aggregating to 189.43 crore in Mindspace Business Parks REIT, while Capital Income Builder purchased more than 51 lakh shares at an average price of 303.44 a piece amounting to 157.22 crore.

Blackstone Group Inc-backed Mindspace Business Parks REIT gained as much as 12% on Friday, the second REIT to list in India after Embassy Office Parks in April 2019. The REIT s units closed trading at 303.70 on BSE against an issue price of 275. The initial public offering that raised 4500 crore was subscribed 13 times, last week.

The Mindspace REIT IPO was subscribed to by major investors such as Singapore’s GIC Private Ltd., Fidelity Funds, Nomura Trust & Banking, HSBC Global Investment Funds and the Monetary Authority of Singapore.

Mindspace REIT has a portfolio of 29.5 million sq. ft of commercial properties located across major cities, such as Mumbai, Pune, Chennai and Hyderabad, out of which around 24.5 million sq. ft area is operational.

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