Brookfield India Real Estate Trust has recently launched a Qualified Institutional Placement (QIP) to raise up to INR 3,500 crore by issuing shares to institutional investors. The company, through a regulatory filing, stated that the Issue Committee of the board of directors of Brookprop Management Services Pvt Ltd, the manager of Brookfield India REIT, approved the opening of the QIP. The floor price for the issue was set at INR 287.55 per unit, while the unit price closed at INR 290.73 per unit on the Bombay Stock Exchange.
The funds raised through the QIP will serve multiple purposes, including debt repayment, capital expenditures, and general corporate purposes such as supporting future growth opportunities, both organic and inorganic. The company aims to use the capital for the partial or full prepayment of outstanding borrowings and funding future investments in creditworthy instruments. Brookfield India REIT currently boasts a diverse portfolio of 10 Grade A assets across key urban centres such as Delhi, Mumbai, Gurugram, Noida, and Kolkata. The total leasable area of the portfolio stands at 28.9 million square feet, which includes 24.3 million square feet of operational space, 0.6 million square feet under construction, and 4 million square feet earmarked for future development. This extensive footprint positions the trust as a significant player in the Indian commercial real estate market with substantial room for growth. The QIP follows an earlier approval by the unitholders to raise up to INR 3,500 crore through unit issuances. With this strategic move, Brookfield India REIT is looking to strengthen its financial position, reduce debt, and continue expanding its portfolio to enhance its presence in India’s competitive real estate sector.
