India: DLF ropes in Morgan Stanley, KPMG as advisors to Reit
Photo: Pradeep Gaur/Mint
January 31, 2021
The rental arm of DLF Ltd, India’s largest real estate firm, has appointed consultants as it prepares for a real estate investment trust, that could provide a significant leg-up to the country’s emerging Reit market.
It has appointed Morgan Stanley as banker, Shardul Amarchand Mangaldas & Co as legal advisor and KPMG as financial and tax advisor, the firm said in an analyst presentation.
Deliberations are on regarding the proposed Reit’s corporate and capital structure as well as asset perimeters, the firm said.
Brookfield s IPO is third REIT IPO after Mindspace Business Parks and Embassy Office Parks
Brookfield India Real Estate Trust (REIT) s Rs 3,800 crore initial public offering (IPO) will open for bidding on February 3. The public issue will close on February 5. The Canadian asset manager Brookfield Asset Management backed-company has fixed the price band of the IPO at Rs 274-275 per unit. The shares are likely to be listed on the BSE and NSE on February 17, 2021.
Investors can bid for a minimum 200 units and in multiples of 200 units thereafter, which translates into a minimum application size of Rs 55,000 at the higher end of the price band. The company will use the funds to repay debts.
DLF rental arm prepares for REIT launch; ropes in consultants
DLF s whole-time director Ashok Tyagi said the consultants have been appointed to restructure the business and be ready to launch the REIT whenever the two shareholders decide
PTI | January 30, 2021 | Updated 19:39 IST
DLF Cyber City Developers Ltd (DCCDL) is a joint venture between DLF Ltd and Singapore sovereign wealth firm GIC
Realty major DLF s rental arm DCCDL on Friday said it has appointed consultants, including banker, tax advisor and law firm, to prepare itself for the launch of its Real Estate Investment Trust (REIT) but the timing of the public issue will be decided by its shareholders. DLF Cyber City Developers Ltd (DCCDL) is a joint venture between DLF Ltd and Singapore sovereign wealth firm GIC. While DLF holds 66.67 percent stake in the JV, the GIC has 33.33 percent shareholding.
Brookfield India REIT to launch Rs 3,800-crore IPO on February 3; check details
The proceeds from the issue will be used for partial or full repayment of existing debt, the company said in its DHRP
BusinessToday.In | January 29, 2021 | Updated 14:03 IST
Link Intime India Private Ltd is the registrar for the REIT. Bank of America, Citigroup Inc and Morgan Stanley are managing the IPO
Canadian asset manager Brookfield Asset Management-backed Brookfield India Real Estate Trust (REIT) will open its initial public offer (IPO) for subscription from February 3 to February 5. The company plans to raise Rs 3,800 crore through an IPO.
Brookfield India Real Estate Trust IPO will be the third REIT listing after Blackstone Group Inc backed Mindspace Business Parks REIT last year and Embassy Office Parks REIT in 2019.