Brookfield India REIT to launch Rs 3,800-crore IPO on February 3

<?php echo html_escape(strip_tags($title)); ?>

By Ashish Mitra --
Saturday, 30 Jan, 2021

Canadian asset manager Brookfield Asset Management-backed Brookfield India Real Estate Trust (REIT) will open its initial public offer (IPO) for subscription from February 3 to February 5. In this exercise, the company plans to raise Rs 3,800 crore.

Brookfield India Real Estate Trust IPO will be the third REIT listing after Blackstone Group Inc backed Mindspace Business Parks REIT last year and Embassy Office Parks REIT in 2019. BSREP India Office Holdings V Pte. Ltd is the promoter of the company that holds 99 per cent stake in the REIT.

The issue price will be between Rs 274-275 per unit of the REIT. The size of the Brookfield India REIT is 200 shares which translates into a minimum application size for retail investors at Rs 55,000 at the upper end of price band.

Link Intime India Private Ltd is the registrar for the REIT. Bank of America, Citigroup Inc and Morgan Stanley are managing the IPO. The proceeds from the issue will be used for partial or full repayment of existing debt, the company said in its DHRP.

The shares are proposed to be listed on BSE and NSE on February 17, 2021. The finalisation of Basis of Allotment for Brookfield India REIT will be done on February 11, 2021, and the allotted shares will be credited in applicant's demat account by February 12, 2021.

Multi-national corporations like Barclays, Bank of America Continuum, RBS, TCS, Cognizant, and Accenture are some of the clients of Brookfield India Real Estate Trust. The company has campus-format office parks strategically located in Mumbai, Noida, Gurugram, and Kolkata.

Brookfield India REIT to launch Rs 3,800-crore IPO on February 3. Canadian asset manager Brookfield Asset Management-backed Brookfield India Real Estate Trust (REIT) will open its initial public offer (IPO) for subscription from February 3 to February 5. In this exercise, the company plans to raise Rs 3,800 crore.

Brookfield India Real Estate Trust IPO will be the third REIT listing after Blackstone Group Inc backed Mindspace Business Parks REIT last year and Embassy Office Parks REIT in 2019. BSREP India Office Holdings V Pte. Ltd is the promoter of the company that holds 99 per cent stake in the REIT.

The issue price will be between Rs 274-275 per unit of the REIT. The size of the Brookfield India REIT is 200 shares which translates into a minimum application size for retail investors at Rs 55,000 at the upper end of price band.

Link Intime India Private Ltd is the registrar for the REIT. Bank of America, Citigroup Inc and Morgan Stanley are managing the IPO. The proceeds from the issue will be used for partial or full repayment of existing debt, the company said in its DHRP.

The shares are proposed to be listed on BSE and NSE on February 17, 2021. The finalisation of Basis of Allotment for Brookfield India REIT will be done on February 11, 2021, and the allotted shares will be credited in applicant's demat account by February 12, 2021.

Multi-national corporations like Barclays, Bank of America Continuum, RBS, TCS, Cognizant, and Accenture are some of the clients of Brookfield India Real Estate Trust. The company has campus-format office parks strategically located in Mumbai, Noida, Gurugram, and Kolkata.