Brookfield India REIT plans to raise up to Rs 5k cr via units sale

Brookfield India Real Estate Investment Trust (REIT) plans to raise up to Rs 5,000 crore via sales of units to institutional investors.

The board of directors of Brookprop Management Services Pvt Ltd, the manager of Brookfield India Real Estate Trust (Brookfield India), at its meeting held on Friday sanctioned the issuance of units of Brookfield India real estate investment trust (REIT) for an aggregate amount not surpassing Rs 50,000 million.

The company told the media that the units would be issued at a cost not less than the rate to be decided by Securities and Exchange Board of India's (SEBI) guidelines for REITs to eligible investors via an institutional placement in one or more tranches.

The firm will take approvals from its unitholders.

The Brookfield India Real Estate Trust is India’s only institutionally supervised public commercial real estate vehicle. The company is sponsored by an affiliate of Brookfield Asset Management Inc, one of the largest asset management firms in the world with a footprint spanning more than 30 countries, 150,000 and more operating employees, and assets of almost US$725 billion under management.

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Also read: Brookfield REIT records Rs 59.7 cr net income in Q3 FY22