Brookfield India Real Estate Trust share price kickstarted trading with a marginal premium at Rs 281.70 on the National Stock Exchange, on February 16, against issue price of Rs 275. On the BSE, the stock was opened at Rs 275.05.
The REIT, sponsored by an affiliate of Brookfield Asset Management, raised Rs 3,800 crore through a public issue which was subscribed 7.94 times during February 3-5.
Institutional as well as other investors provided strong support to the issue as their reserved portion was subscribed 4.78 times and 11.74 times respectively.
Brookfield REIT will utilise IPO proceeds for repayment of debts availed by its Asset SPVs. It owns an initial portfolio of 4 large campus format office parks which are located in Mumbai, Gurugram, Noida and Kolkata with an initial portfolio size of 14.0 million square feet (msf), comprising 10.3 msf of completed area, 0.1 under development and 3.7 msf of future development.Brookfield REIT is India's only institutionally managed public commercial real estate vehicle and is sponsored by an affiliate of Brookfield Asset Management, which is one of the world's largest alternative asset managers, with approximately $575 billion in assets under management as of September 2020.