Brookfield India Real Estate Trust (Brookfield REIT) on February 2 raised Rs 1,710 crore from 39 anchor investors ahead of its IPO opening.
The company in consultation with merchant bankers and selling shareholders finalised allocation of 6,21,80,800 units to anchor investors at Rs 275 per unit, the higher price band.
Schroder Global Cities Real Estate, BNP Paribas, Morgan Stanley, DSP Adiko Holdings, Societe Generale, Coronation Global Managed Fund, IA Opportunities and Moon Capital were among the foreign investors that participated in the anchor book.
HDFC Trustee, SBI Life Insurance, Tata AIG, HDFC Life, Kotak Mahindra Trustee, Bajaj Holdings, Max Life, IIFL Special Opportunities Fund, Star Health and Avendus also received shares in the anchor book.
The Rs 3,800-crore initial public offering (IPO) of India's only 100 percent institutionally managed public commercial real estate vehicle will open for subscription on February 3 and close on February 5.
The price band for the issue has been fixed at Rs 274 to Rs 275 per unit. The issue proceeds will be utilised for partial or full pre-payment or scheduled repayment of the existing indebtedness of asset SPVs.
Investors can bid for a minimum lot of 200 units and in multiples of 200 units thereafter.
Morgan Stanley India Company, BofA Securities India, Citigroup Global Markets India and HSBC Securities and Capital Markets (India) are the global coordinators to the issue. Book running lead managers are Ambit, Axis Capital, IIFL Securities, JM Financial, JP Morgan India, Kotak Mahindra Capital Company and SBI Capital Markets.