Brookfield India Real Estate Trust initial public offering (IPO) Subscribed 8 Times

HamaraTimes.com | Brookfield India Real Estate Trust initial public offering (IPO) Subscribed 8 Times

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Brookfield India Real Estate Trust IPO Subscribed 8 Times

Ahead of the public offering, the company had raised Rs 1,710 crore from 39 anchor investors

Brookfield India Real Estate Trust’s Rs 3,800 crore Real Estate Investment Trust public issue, which was open for bidding between February 3 and February 5, was subscribed by a healthy 8 times. The Canadian alternative investment major Brookfield Asset Management-backed IPO was oversubscribed by nearly 12 times in the retail investors’ category, 5 times in the institutional investors’ segment and 11.52 times in the non-institutional investor category. The shares are likely to be listed on the bourses on February 17.

Brookfield India Real Estate Trust is India’s only institutionally managed public commercial real estate company. It owns four large campus format office parks in Mumbai, Gurugram, Noida and Kolkata.

The company will utilise the proceeds of the issue for repaying and prepaying borrowings of the Asset SPVs and for general corporate purposes.

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Ahead of the IPO, the company had raised Rs 1,710 crore from 39 anchor investors.

This is the fifth IPO in 2021 after Indian Railway Finance Corporation, Home First Finance Company, Indigo Paints and Stove Kraft.

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