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MUMBAI: Canadian alternative investment major Brookfield Asset Management-backed Brookfield India Real Estate Trust’s Real Estate (REIT), on Tuesday, listed at Rs 281.70 per unit, up 2.4% against the issue price of Rs 275.
The Rs 3,800-crore public issue priced between Rs 274 and Rs 275 per unit had closed with an overall subscription of eight times on February 5.
In the retail investors’ category, the issue was oversubscribed by nearly 12 times and was oversubscribed by 5 times in institutional investors’ segment.
This is India’s third REIT listing and second in the country during the ongoing pandemic. The proposed issue will be India’s first REIT which is 100% managed by an institution.
Prior to the public issue, the REIT had received commitments worth over Rs 1,710 crore from 39 anchor investors including global institutional investors, insurance companies, mutual funds and long-only funds.
Anchor investors including global entities like Schroders and Prusik and domestic financial institutions such as HDFC AMC, SBI Life, Tata AIG, HDFC Life, Kotak Mahindra AMC and Bajaj Holdings had committed investment at Rs 275 per unit.
In India, Brookfield owns and operates a portfolio of infrastructure and real estate assets, including 42 million sq ft office properties. About 14 million sq ft out of this will be offered under the REIT and 93% of the portfolio value is derived from completed assets.
The marquee properties offered under the REIT include Kensington SEZ in Mumbai’s Powai which counts Nomura, Deloitte and Credit Suisse among its large tenants. Candor Tech Space in Gurgaon and other key assets in Noida and Kolkata will also be part of this REIT portfolio.
The Rs 3,800-crore public issue priced between Rs 274 and Rs 275 per unit had closed with an overall subscription of eight times on February 5.
In the retail investors’ category, the issue was oversubscribed by nearly 12 times and was oversubscribed by 5 times in institutional investors’ segment.
This is India’s third REIT listing and second in the country during the ongoing pandemic. The proposed issue will be India’s first REIT which is 100% managed by an institution.
Prior to the public issue, the REIT had received commitments worth over Rs 1,710 crore from 39 anchor investors including global institutional investors, insurance companies, mutual funds and long-only funds.
Anchor investors including global entities like Schroders and Prusik and domestic financial institutions such as HDFC AMC, SBI Life, Tata AIG, HDFC Life, Kotak Mahindra AMC and Bajaj Holdings had committed investment at Rs 275 per unit.
In India, Brookfield owns and operates a portfolio of infrastructure and real estate assets, including 42 million sq ft office properties. About 14 million sq ft out of this will be offered under the REIT and 93% of the portfolio value is derived from completed assets.
The marquee properties offered under the REIT include Kensington SEZ in Mumbai’s Powai which counts Nomura, Deloitte and Credit Suisse among its large tenants. Candor Tech Space in Gurgaon and other key assets in Noida and Kolkata will also be part of this REIT portfolio.
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