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The initial public offering (IPO) of Brookfield India Real Estate Trust (REIT), which opened on 3rd February and will close on 5th February, aims to raise Rs3,800 crore through the issuance of fresh units. This will be the third such public offering after Embassy Office Parks REIT, a joint venture between Bengaluru-based Embassy group and private equity giant Blackstone, and Mindspace.
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Brookfield REIT IPO subscribed 15% on first day of bidding
The India s only institutionally managed public commercial real estate vehicle is aimed to raise Rs 3,800 crore through its public issue. February 03, 2021 / 05:59 PM IST
The initial public offering of Brookfield India Real Estate Trust, sponsored by an affiliate of Brookfield Asset Management, has been subscribed 14.62 percent so far on the first day of bidding, February 3.
The public offer has received bids for 1.15 crore units against the IPO size of over 7.62 crore units, the subscription data available on the exchanges showed.
The reserved portion of other investors, including corporates and individuals, witnessed 30.11 percent subscription, while the portion set aside for institutional investors has subscribed 3 percent.
Shares of Home First Finance Company India ended at Rs 527.4, with a gain on less than 2 per cent over its issue price of Rs 518 during their stock market debut on Wednesday. The stock, however, gained as much as 23 per cent in intra-day trade. It touched a high of Rs 640 and a low of Rs 522 on the NSE, where Rs 1,445 crore worth of shares changed hands. Home First’s Rs 1,150-crore IPO last month had garnered 27 times subscription. The company, backed by private equity major Warburg Pincus, is mortgage lender focused on low and middle-income groups. At its last close, the Home First was valued at Rs 4,609 crore. Through the IPO, the company raised fresh equity capital of Rs 265 crore.
Brookfield India Real Estate Trust IPO opens today: 10 things to know about the public issue
Brookfield India Real Estate Trust IPO will close on February 5. The price band has been fixed at Rs 274 to Rs 275 per unit. February 03, 2021 / 04:20 PM IST
Brookfield India Real Estate Trust is the third Real Estate Investment Trust (REIT) to launch initial public offering after the successful listing of Blackstone Group-backed Mindspace Business Parks REIT in 2020 and Embassy Office Parks REIT in 2019.
This will be the fifth IPO in the current year, after Indian Railway Finance Corporation, Indigo Paints, Home First Finance Company and Stove Kraft.
Synopsis
Ahead of the initial public offer (IPO), Brookfield REIT had raised Rs 1,710 crore from anchor investors.
Agencies
Brookfield IPO consists of fresh issue of units with a price band of Rs 274-275.
NEW DELHI: Brookfield India Real Estate Trust (REIT) Rs. 3,800-crore public offer got off to a slow start as the issue was subscribed only 15 per cent at the end of the first day.
The issue received bids for 1,15,12,600 units out of the 7,62,78,200 units on offer.
Coming at a time when the IPO mart has seen heightened activity with excellent response from investors, some analysts believe one can bid for the issue from a long-term perspective.