Image Source : BROOKFIELD WEBSITE Brookfield India REIT IPO subscription opens at the moment: Check lot dimension, value band and extra
The preliminary public provide (IPO) of Brookfield India Real Estate Trust (Brookfield REIT) will open at the moment for subscription. The value band is fastened at Rs 274 to Rs 275. The public difficulty will shut on February 5. Brookfield India will hit the capital market with its REIT public difficulty on Wednesday to boost as much as Rs 3,800 crore. Bids might be made for a minimal lot of 200 items and in multiples of 200 items, which interprets right into a minimal utility dimension of Rs 55,000 on the larger finish of the value band.
Brookfield REIT, the nation’s solely 100 per cent institutionally managed public industrial actual property car, is issuing items aggregating as much as Rs 3,800 crore. It is providing 14 million sq. toes of its industrial portfolio within the REIT.
The firm raised Rs 1,710 crore from anchor traders forward of its public difficulty. Brookfield India goals to boost Rs 3,800 crore because it hits the capital market with its public difficulty.
Brookfield REIT would be the third listed belief in India whether it is efficiently subscribed. The first one Embassy Office Parks REIT, backed by Blackstone and Embassy group, bought listed in April 2019 after elevating Rs 4,750 crore. Mindspace Business Parks REIT, owned by Ok Raheja and Blackstone, was listed in August final 12 months amid COVID-19 pandemic after elevating Rs 4,500 crore.
In a regulatory submitting, Brookfield REIT knowledgeable that below anchor traders portion within the public difficulty 62,180,800 items have been subscribed at a bid value of Rs 275 per unit. This quantities to about Rs 1,710 crore. The anchor funding spherical noticed participation from monetary establishments equivalent to HDFC AMC, SBI Life, Tata AIG, HDFC Life, Kotak Mahindra AMC, and Bajaj Holdings, amongst others. Foreign portfolio traders equivalent to Schroders and Prusik additionally invested.
The internet proceeds from the general public difficulty shall be utilised for partial or full pre-payment or scheduled reimbursement of the prevailing debt of Asset SPVs (particular goal autos).
REIT, a preferred instrument globally, was launched in India a number of years in the past, aimed toward attracting funding in the actual property sector by monetising rent-yielding belongings. It helps unlock the large worth of actual property belongings and allow retail participation.
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