IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

Arun has over 15 years’ experience covering the Technology sector. During this time, he has worked with technology start-ups and as an equity analyst in investment banks and independent research firms. He was formerly a Technology Analyst for Canaccord Genuity, Altium Securities, Espirito Santo Investment Bank, Noble Group and Clear Capital. He has a dual Master’s degree in Financial Engineering and Industrial and Operations Engineering from the University of Michigan. He obtained his Bachelor’s degree in Mechanical Engineering from the Indian Institute of Technology, Bombay. He is also a CFA charterholder.

IPOs and Catalysts/Events

Mindspace Business Parks REIT IPO Initiation: Getting Back to Work

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Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Equity Capital Markets

Mindspace Business Parks REIT / Equity Capital Markets

<div><p><a href="https://www.smartkarma.com/entities/mindspace-business-parks-reit" target="_blank" data-smartkarma-citation="entities:28818:1" rel="noopener">Mindspace Business Parks REIT (MBP IN)</a> owns an office portfolio located in four key office markets (Mumbai Region, Hyderabad, Pune and Chennai) of India. Mindspace has launched its IPO at a tight range of Rs274-275 per unit to raise up to Rs45 billion ($603 million) through a primary offer of Rs10 billion ($134 million) and a secondary offer of Rs35 billion ($469 million). The three-day book building will kick off on 27 July. </p></div><div><div><div class="content-highlight"><p>In <a href="https://www.smartkarma.com/insights/mindspace-business-parks-reit-ipo-initiation-getting-back-to-work" target="_blank" rel="noopener">our initiation note</a>, we stated that Mindspace offers an attractive value proposition for investors willing to invest in a niche segment of the Asian REIT sector. Our valuation analysis suggests that the IPO price range is attractive. </p></div></div></div>

Mindspace Business Parks REIT (MBP IN) owns an office portfolio located in four key office markets (Mumbai Region, Hyderabad, Pune and Chennai) of India. Mindspace has launched its IPO at a tight range of Rs274-275 per unit to raise up to Rs45 billion ($603 million) through a primary offer of Rs10 billion ($134 million) and a secondary offer of Rs35 billion ($469 million). The three-day book building will kick off on 27 July. In our initiation note, we stated that Mindspace offers an attractive value proposition for investors willing to invest in a niche segment of the Asian REIT sector. Our valuation analysis suggests that the IPO price range is attractive. 

Mindspace Business Parks REIT IPO: Valuation Insights