Bavadharini KS
BL Research Bureau |
Updated on
February 03, 2021
Quality of tenants, high occupancy and long-term lease contracts are positives
The IPO of Brookfield Real Estate Investment Trust (REIT) is open for subscription between February 3 and February 5 at the price band of ₹274-275. Backed by Canadian Asset Management Company, Brookfield, this REIT is the third to list in India and is expected to raise ₹3,800 crore as fresh issue. The amount is proposed to be utilised to bring down the REIT’s debt and improve the entity’s cash flow. As on September 2020, the total debt of Brookfield stands at ₹5,650 crore and post-issue it is expected to come down to ₹2,075 crore.
Brookfield REIT issue to open on Wednesday to raise Rs 3,800 cr
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Last Updated: Feb 02, 2021, 04:19 PM IST
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Synopsis
The initial public offer (IPO) of Brookfield India Real Estate Trust (Brookfield REIT) will open on February 3 at a price band of Rs 274 to Rs 275. The public issue will close on February 5.
Agencies
The first one Embassy Office Parks REIT, backed by Blackstone and Embassy group, got listed in April 2019 after raising Rs 4,750 crore.
Global investment firm Brookfield s Real Estate Investment Trust (REIT) public issue will hit the capital market on Wednesday to raise up to Rs 3,800 crore.
Brookfield REIT will be the third listed trust in India if it is successfully subscribed.