As per sources privy to the development, Brookfield AMC has selected banks to launch its India REIT IPO. From the issue, the Canadian asset manager looks at raking $500 million.
Listing of the issue is expected as early as 2020 end. For the offering, the banks selected to arrange the IPO offering include Bank of America Corp., Citigroup Inc. and Morgan Stanley.
As per a Bloomberg report, the Brookfield is in discussion of its India-based commercial real asset since last year. The REIT IPO issue has opened up a space of fund raising for the country's financially starved real estate space, with the debut by Embassy REIT issue in April last year. Also, currently there is another REIT IPO that has gone public today of Mindspace Business REIT IPO.
Brookfield, which manages more than $515 billion assets globally, owns and operates 22 million square feet of office properties in India, according to its website.