Brookfield REIT IPO – Review, Allotment, Subscription, GMP & DRHP

Let’s have a detailed review of the company and analytics of the Brookfield REIT IPO release date, IPO offer price, subscription, Brookfield REIT Limited IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.

Face ValueRs 10
Price BandRs [●]
Listing AtBSE, NSE
Min. Order Quantity[●]
Listing Date [●]
Offer for SaleRs MILLION
Fresh IssueRs 38,000 MILLION
IPO SizeRs MILLION
Tick Size[●]

Brookfield REIT IPO is listed at [●] premium. Check out the live share price by clicking on the below link.

Brookfield REIT Share Price – Live Performance

Brookfield REIT IPO – Summary

Brookfield REIT IPOThe Brookfield REIT is India’s only institutionally managed public commercial real estate vehicle. Sponsored by an affiliate of Brookfield Asset Management (“BAM”),

It is aaone of the world’s largest alternative asset managers with approximately US$550 billion in assets under management.

As of June 30, 2020, their goal is to be the leading owner of high quality income producing commercial real estate assets in key gateway Indian markets, which have significant barriers to entry.

The Sponsor of this company is BSREP India Office Holdings V Pte. Ltd.. The lead managers to the issue are Morgan Stanley India Company Private Limited, DSP Merrill Lynch Limited*, Citigroup Global Markets India Private Limited, HSBC Securities and Capital Markets (India) Private Limited, Ambit Private Limited, Axis Capital Limited, IIFL Securities Limited, JM Financial Limited, J.P. Morgan India Private Limited, Kotak Mahindra Capital Company Limited, SBI Capital Markets Limited and the Registrar to this issue is Link Intime India Private Limited.


Brookfield REIT IPO Date

The opening and the closing date of IPO of Brookfield REIT Limited is not available yet.


Brookfield REIT Limited IPO Subscription

Day / DateQIBNIIRIITotal Subscription
1st Day – 
2nd Day –  
3rd Day – 
Shares Offered or Net Issue

The shares subscribed by the public will be updated here.


Brookfield REIT Limited IPO Allotment Status

Here, you can find the Allotment Status of this IPO.

Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment status is not yet disclosed.

Brookfield REIT Limited IPO Listing Date

Find the dates below on basis of allotment, refund, listing and more:

Basis of Allotment Finalization
Refunds Initiation
Credit of Shares to Demat Account
Share Listing Date

Brookfield REIT IPO Price Band / Cash Price

The face value of each share is Rs.10, but the price band of the IPO is Rs [●]. 


Brookfield REIT IPO Equity Size

This Initial Public Issue of [●] Equity Shares of Rs.10 each for cash at a price of Rs.[●]  per equity share aggregating to Rs.[●] million.


Brookfield REIT IPO Share Offering

Fresh Issue: The Fresh Issue of [●] Equity Shares by their Company, aggregating to Rs.38,000 million,

Issue Size: [●]  Equity Shares of Rs.10 each, aggregating to Rs.[●] million

Offer for Sale: Offer for sale consists of Up to [●] Equity Shares of face value of Rs.10 each, aggregating Rs.[●]  million.


Brookfield REIT IPO – Live Performance

The listing date of this IPO is NA. You can check the live performance of the IPO here, only after it is listed on exchanges.

Live IPO Performance – Brookfield REIT Share Price

Brookfield REIT IPO Grey Market Premium

The Brookfield REIT Limited IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is X. 


Brookfield REIT IPO – Company Overview

Their strategy is to address this demand by owning and operating large “fully-integrated”, “campus-format” office parks in established locations, and providing a complete ecosystem to their tenants and their employees.

In line with their strategy and business plan, they own an Initial Portfolio of four large campus-format office parks, which they believe are “business-critical”, located in some of India’s key gateway markets – Mumbai, Gurugram, Noida and Kolkata. Their Initial Portfolio totals 14.0 msf, comprising 9.8 msf of Completed Area, 0.6 msf of Under Construction Area (occupation certificate for 0.5 msf received on September 22, 2020) and 3.6 msf of Future Development Potential.

They intend to leverage Brookfield Group’s real estate holdings in India by entering into agreements that provide options to acquire their existing properties in their markets.

They have the exclusive right and option at their discretion to acquire the Call Option Properties, one office park in each of Gurugram and Noida, similar to the office parks in the Initial Portfolio, that are near-stabilization and currently owned by members of the Brookfield Group.

Brookfield REIT IPO Business Verticals

The primary objective of their strategy is to provide attractive risk-adjusted total returns to their Unitholders derived from:

  • stable yield supported by their Initial Portfolio’s long-term contracted cash flows;
  • property level income growth that is embedded in their Initial Portfolio through contractual rent escalations, mark-to-market headroom and in-situ development potential;
  • acquisitions including those of identified external growth opportunities through the Call Option Properties and the ROFO Properties; and
  • asset value appreciation, through continuous investment in the properties to upgrade them.

Brookfield REIT IPO – Financial Statements

A quick look into the past financial performance of the company to understand its performance of business and evaluate the growth prospectus:

Financial Summary:

Amount (in INR & millions)
31-Mar-20Mar-1931-Mar-18
Total Assets53,780.5050,436.9748,932.97
*Total Revenue9,813.959,298.308,662.51
Total Expense11,894.658,757.256,970.78
Profit After Tax151.22(157.45)1,610.84

Earnings per Equity Share (in Millions)

31-Mar-20Mar-1931-Mar-18
Basic & Diluted

Their Manager has grown their NOI from Rs.5,902.43 million for FY 2018 to Rs.6,763.43 million for FY 2020.


Brookfield REIT Limited IPO – Promoters

The Sponsor of this company is:

  1. BSREP India Office Holdings V Pte. Ltd.

List of Related Parties (Key Managerial Personnel)

  • Subrata Ghosh is the vice president – projects
  • Baljit Singh is the vice president – operations
  • Sanjay Yadav, Company Secretary and Compliance Officer

Competitive Strengths of Brookfield REIT Limited

  • Global Sponsorship with Local Expertise.
  • Difficult to Replicate, Dominant and Strategically Located Properties
  • Placemaking Capabilities.
  • Diversified Blue Chip Tenant Roster and Cash Flow Stability.
  • Significant Identified Internal and External Growth Opportunities.
  • Experienced, Cycle-Tested Senior Management Team.
  • Institutional Corporate Governance Framework and Strong Alignment of Interests.

Brookfield REIT Limited IPO Offer Details or Issue Details

 Particulars No. Of Equity Shares
 Equity Shares Offered Up to [●] Equity Shares aggregating up to Rs.[●] million
of which:
Fresh issueUp to [●] Equity Shares aggregating up to Rs.38,000
million
Offer For Sale
Up to [●] Equity Shares aggregating up to Rs.[●]
million
Less
Strategic Investor PortionUp to [●] Units aggregating up to Rs.[●] million
Offer (excluding Strategic
Investor Portion)
Up to [●] Units aggregating up to Rs.[●] million
Of which: 
Institutional Investors Portion Not more than [●] Equity Shares
Non-Institutional Investors PortionNot less  than [●] Equity Shares

Brookfield REIT IPO Issue Object

Their Company proposes to utilise the Net Proceeds towards funding the following objects:

 

Business strategies of Brookfield REIT Limited

  • Leveraging Brookfield and their Manager’s Operating Expertise for Proactive Asset and Property Management
  • Capitalize on their Initial Portfolio’s Embedded Organic Growth and On-Campus Development Potential
  • Pursue Disciplined and Accretive Acquisition Growth Opportunities.
  • Prudent and Flexible Capital Structure Positioned for Growth.

Brookfield REIT Limited IPO – Basis of the Offer Price

The issue price is determined by the company in consultation with the Lead manager and on the basis of the following qualitative and quantitative factors.

Qualitative factors are:

a) Global sponsorship with local expertise
b) Difficult to replicate, dominant and strategically located properties
c) Placemaking capabilities
d) Diversified blue chip tenant roster and cash flow stability
e) Significant identified internal and external growth opportunities
f) Experienced, cycle-tested senior management team
g) Institutional corporate governance framework and strong alignment of interests

The relevant quantitative factors are:

Basic & Diluted EPSRONW (%)NAV (Rs.)
31-Mar-20
31-Mar-19
31-Mar-18

Brookfield REIT IPO : Competitive Peers

NAV per unitPremium / (Discount to NAV)
Brookfield RIET[●][●]
Listed Peers
Embassy Office Parks REIT374.64(3.3%)
Mindspace Business Parks REIT319.50(5.8%)

Brookfield REIT IPO Lead Managers

Lead Managers
Morgan Stanley India Company Private Limited,

DSP Merrill Lynch Limited*,

Citigroup Global Markets India Private Limited,

HSBC Securities and Capital Markets (India) Private Limited,

Ambit Private Limited,

Axis Capital Limited,

IIFL Securities Limited,

JM Financial Limited,

J.P. Morgan India Private Limited,

Kotak Mahindra Capital Company Limited,

SBI Capital Markets Limited

Brookfield REIT IPO Registrar to offer

Registrar to the Offer
Link Intime India Private Limited
C-101, 1st Floor, 247 Park
Lal Bhadur Shastri Marg
Vikhroli (West), Mumbai 400 083
Maharashtra, India
Tel: +91 22 4918 6200
Fax: +91 22 4918 6195
E-mail: brookfield.reit@linkintime.co.in
Investor grievance e-mail:
brookfield.reit@linkintime.co.in
Website: www.linkintime.co.in
Contact Person: Shanti Gopalkrishnan
SEBI Registration No.: INR000004058

Brookfield REIT IPO – Other Details

  • Statutory Auditor – Deloitte Haskins & Sells
  • Legal Counsel to the Company – Shardul Amarchand Mangaldas & Co
  • Bankers to the Company –  [●]


Brookfield REIT Limited IPO Review by Top 10 Stock Brokers

Top Stock Brokers ReviewCompany ReputationCompetitive EdgeFinancial StatementPopularity IndexPromoters Reputation
Angel Broking7.5/107.4/108.5/108.1/107.1/10
Sharekhan7.2/107.1/108.6/108.1/107.2/10
Kotak Securities7.3/107.5/108.4/108.1/107.3/10
ICICI Direct7.3/107.3/108.7/108.1/107.1/10
IIFL7.5/107.2/108.8/108.0/107.1/10
Edelweiss7.5/107.4/108.4/108.3/107.2/10
Zerodha7.4/107.1/108.5/108.1/107.0/10
5Paisa7.1/107.1/108.4/108.1/107.1/10
Karvy7.4/107.3/108.2/108.1/107.1/10
Motilal Oswal7.1/107.1/108.6/108.3/107.2/10

 


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