IPO News

Brookfield REIT final day – Issue subscribed 7.39 times

Brookfield REIT had its final day of issue subscription today. The issue was filed on February 3, 2021 with has received bids for around 55.39 crore units against its offer size of more than 7.62 crore.

So far, the issue had been subscribed for 7.39 times on its final day.

The QIB portion has been subscribed for 4.78 times and the non-institutional portion has been subscribed for 10.31 times so far.

This REIT comprises of 76,278,200 equity shares.

Again, Brookfield REIT is the third REIT in India after two major REITs of last two fiscal years.

Earlier, there were only Embassy Office Parks REIT which happened in 2019 and the Mindspace Business Parks REIT in 2020.

This REIT has been sponsored by the affiliate of Brookfield Asset Management. It is one of the largest alternative asset managers of the world which currently has assets around $575 billion under its management.

The company targets to generate around Rs 3,800 crore through its public issue. It has already achieved around Rs 1,710 out of its Rs 3,800 crore target via anchor investors on February 2.

Company will utilise the issue proceeds for the repayment of debts which were availed by its Asset SVPs.

The company is also expected to roll out a pre-tax capitulate of 7.95 percent by the next fiscal year 2022.


Check all the recent news updates and share market updates


 

Get 90% Discount on Brokerage Now! Open Demat Account