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Brookfield REIT IPO subscribed 8 times, gets bids for 573 mn units

IPO was made up entirely of Rs 3,800 cr of fresh fund raise. Experts say good response shows that domestic investors have warmed up to REITs as a new investing vehicle

Topics
IPOs

Samie Modak  |  Mumbai 

IPOs

The IPO of Brookfield India Real Estate Trust (REIT) garnered nearly eight times subscription. The offering received bids for 573 million units as against 76.3 million on offer.

The price band for the IPO was Rs 274 to Rs 275 per share. Investors had to apply for a minimum of 200 units (worth Rs 55,000 at the top-end) and multiples of 200 units. Brookfield REIT IPO was made up entirely of Rs 3,800 crore of fresh fund raise.

Experts said the good response to the REIT offering shows that domestic investors have warmed up to this new investing vehicle.

This is the third REIT IPO in the domestic market, after Embassy REIT in 2019 and Mindspace REIT in 2020.

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First Published: Fri, February 05 2021. 17:33 IST
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