IPO News

Brookfield India IPO to release on February 3 with price band Rs 274-275

Brookfield India Real Estate Trust REIT is about to open its IPO for subscription on February 3. The Canadian asset manager Brookfield Asset Management is the sponsor of the group.

Brookfield targets to raise Rs 3,800 crore through this issue which will remain open till February 5, 2021.

BSREP V is the IPO sponsor and it is managed by Brookprop Management Services. The trustee to this REIT is Axis Trustee Services.

Brookfield India Real Estate Trust REIT is the third REIT IPO in the country. Earlier there were only two REIT IPOs which were Mindspace Business Parks REIT in 2020 and Embassy Office Parks REIT 2019.

The investment bid amount is around 200 and in multiples of 200 units for all other investors rather than anchor investors.

This however is transformed into a minimum application size for all the retail investors at an upper price band of Rs 55,000.

The Brookfield REIT is however the only public commercial real estate vehicle which is managed institutionally in India.

The real estate company’s initial portfolio comprises of 14.0 million square feet (msf). This portfolio comprises of rights to acquire a further 8.3 msf.

Not only this, also comes up with rights of first offer on an additional 6.7 msf. Both of these are currently owned and operated by the Brookfield members.

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