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Brookfield India Real Estate Trust IPO opens February 3, price band fixed at Rs 274-275

Brookfield aims to raise Rs 3,800 crore via this public issue that closes on February 5. The company will use the money to repay debts.

January 29, 2021 / 12:33 PM IST

Brookfield India Real Estate Trust (REIT), backed by Canadian asset manager Brookfield Asset Management, will open its initial public offering (IPO) for subscription on February 3.

The company in consultation with merchant bankers has fixed the price band at Rs 274-275 per unit. Investors, other than anchor investor, can bid for a minimum of 200 units and in multiples of 200 units thereafter, which translated into a minimum application size for retail investors at Rs 55,000 at the upper price band.

Brookfield's offering is the third REIT IPO after Mindspace Business Parks REIT in 2020 and Embassy Office Parks REIT in 2019.

Brookfield aims to raise Rs 3,800 crore via the issue that will close on February 5. The company will use the funds to repay debts.