Brookfield's Rs. 3,800-cr IPO for realty trust
Alternative asset manager Brookfield on Friday announced its Rs 3,800-crore initial public offer (IPO) for its real estate investment trust (REIT), giving investors a share of over 1.4 crore square feet of its commercial properties across the country.
image for illustrative purpose
Mumbai: Alternative asset manager Brookfield on Friday announced its Rs 3,800-crore initial public offer (IPO) for its real estate investment trust (REIT), giving investors a share of over 1.4 crore square feet of its commercial properties across the country.
With the IPO coming amidst the Covid-19 pandemic, the global asset manager said there is no data to suggest that work from home is the new normal and exuded confidence that benefits like closely working together for productivity purposes will eventually get teams to work from offices. REITs are a relatively newer platforms in India and so far two REITs have been listed. The issue will open for subscription on February 3 and close on February 5, and bids can be made for a minimum of 200 units and in multiples of 200 thereafter by bidders other than anchor investors.
Investors will be able to buy a unit of the REIT in the band of Rs 274-275, valuing the trust at Rs 8,327 crore at the upper end of the band, Ankur Gupta, managing partner, real estate said, adding that the net asset value (NAV) per unit is Rs 311.
