Brookfield India Real Estate Trust initial public offering (IPO) Subscribed 8 Times
The Brookfield India Real Estate Trust’s Rs 3,800 public issue from the Brookfield India Real Estate Trust’s Real Estate Investment Trust, which was open for tender between February 3rd and 5th, was subscribed by a healthy 8x. The Brookfield Asset Management-sponsored IPO, which focused on Canadian alternative investments, was oversubscribed nearly 12 times in the retail category, 5 times in the institutional segment, and 11.52 times in the non-institutional segment. The shares are expected to be listed on the stock exchanges on February 17th.
Brookfield India Real Estate Trust is India’s only institutionally managed public commercial real estate company. It has four large campus-sized office parks in Mumbai, Gurugram, Noida and Kolkata.
The Company will use the proceeds from the issue to repay and prepay borrowings from the Asset SPVs and for general corporate purposes.
Before going public, the company had raised 1,710 rupees from 39 anchor investors.
This marks the fifth initial public offering in 2021 after Indian Railway Finance Corporation, Home First Finance Company, Indigo Paints, and Stove Kraft.