You are here: Home » Companies » News
Business Standard

Brookfield REIT makes a tepid debut, units end 2% below issue price

Earlier this month, Brookfield Reit's Rs 3,800-crore IPO had garnered nearly eight times subscription

Topics
Brookfield india | REIT | Real Estate

Sundar Sethuraman  |  Mumbai 

Brookfield REIT makes a tepid debut, units end 2% below issue price
REITs are investment products through which investors or unit holders can own income-generating commercial buildings and office spaces properties

on Tuesday became the third trust (Reit) to get listed in the domestic market. The price of its units, however, ended below their issue price. Brookfield 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 in 2019. Last year, Mindspace went public.

REITs are investment products through which investors or unit holders can own income-generating commercial buildings and office spaces properties.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Tue, February 16 2021. 20:29 IST
RECOMMENDED FOR YOU
.