REIT market hots up, Brookfield India REIT to raise Rs 3,800 cr via public issue

New Delhi: Brookfield India Real Estate Trust will raise Rs 3,800 crore by way of via a public issue. The issue will be priced between Rs 274 and Rs 275 per unit of REIT. It will open on 3 February and close on 5 February, the company said in a regulatory filing.

The money thus raised will be utilized for partial or full repayment of the existing debt. The BPG Holdings Group Inc holds 99 percent share in the REIT. BPG Holdings Group Inc is a Blackstone Group company.

The Brookfield REIT will be India’s third one. This proposed issue of Brookfield will be India’s first REIT that is 100 percent managed by an institution.

Brookfield owns and runs a large portfolio of infra and realty assets including 42 million square feet properties. About 14 million square feet of this will be offered by Brookfield under the REIT. Around 93 percent of portfolio value is determined from completed assets.