The stock of Brookfield India Real Estate Trust made its debut on 16 February on the National Stock Exchange (NSE). The stock was listed at Rs 281.70 on the NSE. On the BSE, the stock opened at Rs 275.05. Explain that its issue price was Rs 275.05. This REIT, sponsored by a company associated with Brookfield Asset Management, has raised Rs 3,800 crore through a public issue. The issue opened between February 3 to February 5 and was subscribed 7.94 times. The issue received a better response from Institutional and other investors. Their reserve portion of the issue was subscribed 4.78 and 11.74 times.
Brookfield REIT will use the money from this IPO to pay off its debt. The company has 4 large campus format office parks. Which are in Mumbai, Gurugram, Noida and Kolkata. The initial portfolio size of the company is 14 million square feet. Out of which about 1 crore sq.ft is completed area. At the same time, work is going on in 0.1 million sqft. While 37 lakh sqft area is to be developed.
Brookefield REIT is India’s only institutionally managed public commercial real estate vehicle. Its sponsor is the company associated with Brookfield Asset Management. Let us know that Brookfield Asset Management is one of the largest alternative asset managers in the world. As of September 2020, it had assets of $ 575 billion.
Explain that Brookfield India Real Estate Trust has closed at Rs 268.93, a fall of Rs 6.07, or 2.21 per cent, on the NSE.