Brookfield India Real Estate Trust files draft document with Sebi

The initiail public issue plans to raise Rs 4400 crore from investors and will be the third REIT offer after Embassy and Mindspace REITs

Brookfield India Real Estate Trust (REIT), sponsored by an affiliate of Canada's Brookfield AMC, filed its draft offer document with the Securities and Exchange Board of India (Sebi) on Wednesday. With the initial public offering (IPO), it plans to raise Rs 4,400 crore.

This is the third REIT offering in India after the Embassy Office Parks REIT and the Mindspace REIT.

The IPO consists of units of Brookfield India Real Estate Trust comprising a fresh issuance aggregating up to Rs 3,800 crore and an additional component for an offer for sale. The issue will see the participation of strategic investors, institutional investors, and non-institutional investors, Brookfield said. "The gross proceeds of the fresh issue will be utilised towards partial or full pre-payment or scheduled repayment of the existing indebtedness of asset SPVs; and for general purposes to the extent allowed," it said.