Brookfield India REIT raises over Rs 2,300 crore through QIP of units

NEW DELHI: Brookfield India Real Estate Trust (Brookfield India REIT) has completed a capital raise
of Rs. 2,305 crore through a Qualified Institutional Placement (QIP) of units.
Proceeds from the placement will be directed toward financing the announced acquisition of two large
commercial assets from Brookfield Asset Management’s private real estate funds.
The issue committee of the board of directors of Brookprop Management Services, the manager of
Brookfield India REIT, approved the issuance and allotment of 9.13 crore new units through this QIP to
64 eligible investors on August 2, 2023 at the issue price of Rs 252.50 per unit, which includes a discount
of Rs 13.29 per unit (i.e., 5%) on the floor price of Rs 265.79 per unit.

On 18 May 2023, Brookfield India REIT and GIC announced they will acquire two large commercial
assets (totaling 6.5 million sq ft) from Brookfield Asset Management’s private real estate funds in an
equal partnership with GIC for a combined enterprise value of Rs 11,225 crore (c.US$1.4 billion). The
acquisition comprises commercial properties in Brookfield’s Downtown Powai, Mumbai, and Candor
TechSpace (G1) Gurugram. To fund the acquisitions, the company launched a QIP on July 27, 2023.
BofA Securities India, Morgan Stanley India Company, Kotak Mahindra Capital Company, Citigroup
Global Markets India, Axis Capital, Jefferies India, JM Financial, SBI Capital Markets, IIFL Securities,
BOB Capital Markets, and ICICI Securities served as book running lead managers for this placement.