The issue received bids for 5.88 crore units as against 7.62 crore units on offer.
The initial public offer (IPO) of Brookfield India Real Estate Trust received bids for 5.88 crore units today, 4 February 2021, as against 7.62 crore units on offer, as per the National Stock Exchange of India (NSE) website data at 17:00 IST. The issue was subscribed 0.77 times.
The issue opened for bidding on Wednesday, 3 February 2021 and it will close on Friday, 5 February 2021. The price band of the IPO is fixed at Rs 274-275. An investor can bid for a minimum of 200 units and in multiples thereof.
Ahead of its IPO, Brookfield India Real Estate Trust raised Rs 1,709.97 crore by allocating 6.21 crore units to 39 anchor investors at Rs 275 per unit, the upper end of the IPO price band.
The IPO aims to garner Rs 3,800 crore of fresh capital. The proceeds of the fresh issue will be utilised towards partial or full pre-payment or scheduled repayment of the existing indebtedness of the Asset SPVs and for general corporate purposes.
The Brookfield India Real Estate Trust (Brookfield REIT) is India's only institutionally managed public commercial real estate vehicle. Sponsored by an affiliate of Brookfield Asset Management (BAM), one of the world's largest alternative asset managers with approximately US$575 billion in assets under management, as of 30 September 2020, their goal is to be the leading owner of high quality income producing commercial real estate assets in key gateway Indian markets, which have significant barriers to entry.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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