Ascendus India Trust

Singapore-based Ascendus India Trust has scored a major first by launching the first ever initial public offering (IPO) which raised funds on the Singapore Stock Exchange with the aim of owning real estate in India. The IPO size was 500 million Singapore dollars.

The investors were indicated that they could expect an yield of 4.75% in FY08 and 5.81% in FY09 on their investment in AIT shares.

. . . in a research study on real estate scenario in India, JPMorgan has said the industry is in the foothills of a sustained growth period. It expects the industry to grow from $50 billion in FY07 to $90 billion by FY11.