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Brookfield’s IPO is third REIT IPO after Mindspace Business Parks and Embassy Office Parks
Brookfield India Real Estate Trust (REIT)’s Rs 3,800 crore initial public offering (IPO) will open for bidding on February 3. The public issue will close on February 5. The Canadian asset manager Brookfield Asset Management backed-company has fixed the price band of the IPO at Rs 274-275 per unit. The shares are likely to be listed on the BSE and NSE on February 17, 2021.
Investors can bid for a minimum 200 units and in multiples of 200 units thereafter, which translates into a minimum application size of Rs 55,000 at the higher end of the price band. The company will use the funds to repay debts.
Brookfield’s offering is the third REIT IPO after Mindspace Business Parks REIT in 2020 and Embassy Office Parks REIT in 2019.
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.
Ambit, Axis Capital, IIFL Securities, JM Financial, JP Morgan India, Kotak Mahindra Capital and SBI Capital Markets are the book running lead managers to the issue, while Link Intime India is the registrar for the REIT.
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