IPO of Brookfield India REIT, 8 times oversubscribed

On Friday, initial public offering of Brookfield India REIT was subscribed almost 8 times on the final day on Friday with good response across institutional and retail categories.

The offer received bids for 60.59 crore units against the IPO size of 7.62 crore units. Institutional investor portion was subscribed 4.8 times and non-institutional investors was subscribed 11.78 times.


Brookfield REIT will be the third listed real estate investment trust in India. Embassy office parks REIT, backed by Blackstone and Embassy group, was the first such real estate trust to list on Indian stock markets in April 2019 after raising Rs 4750 crore, followed by Mindspace Business parks REIT, owned by K Raheja and Blackstone, which went public in August last year had raised Rs 4500 crore.

“At the higher price band of Rs 275 per share, Brookfield REIT’s unit is valued at 88.4% of it’s net asset value (NAV), as compared to the peer average of 96.9%. Thus the issue is fairly priced,” Choice Broking said.

The entity comprises of Grade-A commercial assets located in 4 major cities- Mumbai, Gurugram, Noida and Kolkata.