In a regulatory filing on Friday, the company said it has successfully completed a capital raise of Rs 3,500 crore through a qualified institutional placement (QIP) of units. The issue was launched on December 9.
The REIT reported a consolidated income of Rs 573.8 crore for the quarter, higher than the Rs 314.10 crore for the same quarter last year, and the Rs 535.90 crore reported in the quarter ending March 31.
Its portfolio consists of 18.7 million square feet comprising 14.3 million square feet of completed area, 0.6 million square feet of under construction and 3.9 million square feet of future development potential.
The properties being purchased are in Gurugram's Candour TechSpace and Powai's Hiranandani Gardens, according to the regulatory filing.
The units will be issued at a price not less than the rate to be determined in accordance with SEBI's guidelines for REIT to eligible investors through an institutional placement in one or more tranches.
While there may not be any new REIT launches in FY22, existing REITs will continue to perform well.
On Ideas For Profit, we look deep into Brookfield India Real Estate Trust, the only 100 percent institutionally-managed public commercial real estate vehicle in India
Brookfield IPO aggressively priced offering inadequate safety for the visible risks