For Quick Alerts
For Daily Alerts

Brookfield REIT To Launch IPO On 3 February

By Staff

Brookfield India Real Estate Trust is set to raise Rs 3,800 crore through an initial public offering (IPO). The issue will open on 3 February and close on 5 February, said Brookfield in an advertisement on Thursday. The issue price will be between Rs 274-275 per unit of the REIT.

The company, backed by Canadian asset manager Brookfield Asset Management Inc, said in its offer document that the issue will be used for partial or full repayment of existing debt.

Brookfield REIT To Launch IPO On 3 February

Currently, BPG Holdings Group Inc, a Brookfield entity, holds a 99% stake in the REIT.

This will be the third REIT IPO in India after the successful listing of Blackstone Group Inc backed Mindspace Business Parks REIT last year and Embassy Office Parks REIT in 2019.

Brookfield manages nearly $578 billion in assets globally. In India, it owns and operates infrastructure and real estate assets, including 22 million square feet of office properties, seven toll roads totalling more than 600 km of roadway, solar and wind assets, a construction business and real estate management service business.

For the financial year 2019-20, Brookfield REIT posted a profit of Rs 15.12 crore against a loss of Rs 15.75 crore a year ago.

Further, the company has a total debt of Rs 6,952.07 crore as of March 2020.

Read more about: reit ipo
Story first published: Thursday, January 28, 2021, 14:17 [IST]
Company Search
Get Instant News Updates
Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X