Brookfield India Real Estate Investment Trust (Brookfield REIT) on Tuesday raised Rs 1,710 crore from 39 anchor investors ahead of its initial public offer (IPO). Brookfield India will hit the capital market with its REIT public issue today to raise up to Rs 3,800 crore.

The company said that under anchor investors' portion in the public issue, 62,180,800 units have been subscribed at a bid price of Rs 275 per unit, the higher price band. This amounts to about Rs 1,710 crore.

According to reports, HDFC AMC, SBI Life, Tata AIG, HDFC Life, Kotak Mahindra AMC, and Bajaj Holdings, among others, participated in the anchor book. Foreign portfolio investors such as Schroders and Prusik also invested.

Brookfield REIT will be the third listed trust in India if it is successfully subscribed after Mindspace Business Parks REIT in 2020 and Embassy Office Parks REIT in 2019.

The initial public offer (IPO) of Brookfield India Real Estate Trust (Brookfield REIT) will open today at a price band of Rs 274 to Rs 275 and will close on February 5.

Read here:

Brookfield India Real Estate Trust IPO to open on February 3; price band fixed at Rs 274-275

Brookfield REIT is India’s only institutionally managed public commercial real estate vehicle. The REIT has an initial portfolio size of 14.0 million square feet (msf), comprising 10.3 msf of completed area, 0.1 under development and 3.7 msf of future development.

The REIT owns an initial portfolio of four large campus format office parks which are located in Mumbai, Gurugram, Noida and Kolkata.

Axis Trustee Services Ltd is the trustee, while BSREP India Office Holdings V Pte. Ltd. is the sponsor. Brookprop Management Services Private Ltd is the manager.

The Global Coordinators and Book Running Lead Managers to the issue are Morgan Stanley India Company Private Ltd, BofA Securities India Ltd, Citigroup Global Markets India Private Ltd and HSBC Securities and Capital Markets (India) Private Ltd.

The Book Running Lead Managers to the issue are Ambit Private Ltd, Axis Capital Ltd, IIFL Securities Ltd, JM Financial Ltd, J.P. Morgan India Private Ltd, Kotak Mahindra Capital Company Ltd and SBI Capital Ltd.