Brookfield India Accurate Property Belief IPO opens February 3, tag band mounted at Rs 274-275

Brookfield aims to take hang of Rs 3,800 crore by this public explain that closes on February 5. The firm will spend the money to repay debts.

January 29, 2021 / 12: 33 PM IST

Brookfield India Accurate Property Belief (REIT), backed by Canadian asset supervisor Brookfield Asset Management, will start its preliminary public offering (IPO) for subscription on February 3.

The firm in session with merchant bankers has mounted the value band at Rs 274-275 per unit. Customers, other than anchor investor, can present for on the least 200 units and in multiples of 200 units thereafter, which translated into a minimum utility size for retail traders at Rs 55,000 at the upper tag band.

Brookfield's offering is the third REIT IPO after Mindspace Swap Parks REIT in 2020 and Embassy Place of job Parks REIT in 2019.

Brookfield aims to take hang of Rs 3,800 crore by the problem that will discontinuance on February 5. The firm will spend the funds to repay debts.

Brookfield REIT is the India's easiest institutionally managed public industrial right estate automobile. Its preliminary portfolio contains 14.0 million sq. feet (msf), with rights to fabricate a additional 8.3 msf and rights of first offer on an additional 6.7 msf, each and each currently owned by members of the Brookfield Community.

The firm owns an preliminary portfolio of four tall campuses-format situation of enterprise parks positioned in some of India's key gateway markets  equivalent to Mumbai, Gurugram, Noida and Kolkata.

BSREP V is the sponsor, Brookprop Management Products and providers the supervisor and Axis Trustee Products and providers acts as the trustee to the REIT.

The realm co-ordinators and book running lead managers to the problem are Morgan Stanley India Company, BofA Securities India, Citigroup Global Markets India, HSBC Securities and Capital Markets India. Ambit, Axis Capital, IIFL Securities, JM Monetary, JP Morgan India, Kotak Mahindra Capital and SBI Capital Markets are the book running lead managers to the problem.

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