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.