Brookfield India Real Estate Trust is the third Real Estate Investment Trust (REIT) to launch Rs 3,800 crore initial public offering. The previous listings were Blackstone Group-backed Mindspace Business Parks REIT in 2020 and Embassy Office Parks REIT in 2019.
The company has fixed the price band of the IPO at Rs 274-275 per unit with investors bidding for a minimum 200 units and in multiples of 200 units thereafter. The public issue will close on February 5, 2021.
Brookfield Asset Management owns nearly $17-billion portfolio across real estate, infrastructure, renewable power and private equity in India. It owns and operates 42 million sq. ft. of real estate space, with campus-format office parks located at Mumbai, Noida, Gurugram and Kolkata.
The net proceeds from the public issue will be utilized for partial or full pre-payment or scheduled repayment of the existing debt of Asset special purpose vehicles (SPVs).
