[INDIA REAL ESTATE NEWS] Good morning everyone I am Rumi Dhar from Kama Group.|
Here I have important INDIA real estate news to share with you which is as mention under.
Brookfield India Real Estate Trust (REIT), backed by Canadian asset manager Brookfield Asset
Management, will open its initial public offering (IPO) for subscription on February 3.
The company in consultation with merchant bankers has fixed the price band at Rs 274-275
per unit. Investors, other than anchor investor, can bid for a minimum of 200 units and in
multiples of 200 units thereafter, which translated into a minimum application size for retail
investors at Rs 55,000 at the upper price band.
Brookfield's offering is the third REIT IPO after Mindspace Business Parks REIT in 2020 and
Embassy Office Parks REIT in 2019.
Brookfield aims to raise Rs 3,800 crore via the issue that will close on February 5. The
company will use the funds to repay debts.
Brookfield REIT is the India's only institutionally managed public commercial real estate
vehicle. Its initial portfolio comprises 14.0 million square feet (msf), with rights to acquire a
further 8.3 msf and rights of first offer on an additional 6.7 msf, both currently owned by
members of the Brookfield Group.
Read more at: https://www.moneycontrol.com/news/business/ipo/brookfield-india-real-estate-trust-ipo-opens-february-3-price-band-fixed-at-rs-274-275-6415361.html
Have a nice day