Brookfield India Real Estate Trust is launching its IPO today, February 3, 2021, and the offer will close on February 5, 2021. The price band for the issue has been fixed at Rs 274 to Rs 275 per unit. Brookfield REIT is issuing units aggregating up to Rs 3,800 crore. The units will get listed on the BSE and National Stock Exchange. Investors, other than anchor investors, can bid for a minimum of 200 units and in multiples of 200 units thereafter. The minimum application size by retail investors would be Rs 55,000 at a higher price band. The company will utilize net proceeds from the issue for partial or full pre-payment or scheduled repayment of the existing indebtedness of asset SPVs; and general corporate purposes.
Offer opens on: Feb 3, 2021
Closes on: Feb 5, 2021
Price band: Rs. 274-275 per unit
This will be the fifth IPO in the current year, after Indian Railway Finance Corporation, Indigo Paints, Home First Finance Company, and Stove Kraft. The Brookfield REIT is India’s only institutionally managed public commercial real estate vehicle. It is the third Real Estate Investment Trust (REIT) to launch IPO after the listing of Blackstone Group-backed Mindspace Business Parks REIT in 2020 and Embassy Office Parks REIT in 2019. The REIT owns an initial portfolio of four large campus-format office parks in Mumbai, Gurugram, Noida, and Kolkata. Its initial portfolio totals 14.0 msf, comprising 10.3 msf of completed area, 0.1 msf of under-construction area, and 3.7 msf of future development potential.
We remain neutral on this offer.