 "Brookfield REIT makes a tepid debut, units end 2% below issue price")
Brookfield India on Tuesday became the third real estate trust (Reit) to get listed in the domestic market. The price of its units, however, ended below their issue price. Brookfield Reit closed at Rs 269.2, or two per cent below their issue price of Rs 275 per unit. They hit a high of Rs 281.7 and a low of Rs 258 on the NSE, where over Rs 220 crore worth of units changed hands.
Earlier this month, Brookfield Reit’s Rs 3,800-crore IPO had garnered nearly eight times subscription. The issue proceeds will be utilised to prune debt. Embassy had launched India’s first REIT in 2019. Last year, Mindspace REIT went public.
REITs are investment products through which investors or unit holders can own income-generating commercial buildings and office spaces properties.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%