Brookfield India REIT is looking to raise upto ₹ 3,800 crores through capital markets.
Commercial Real Estate Vehicle owns 4 commercial office parks comprises of 140 Lakhs square feet space
Brookfield India Real Estate Trust (Brookfield India REIT) established in 2020. It owns an Initial Portfolio of four large campus-format office parks, which we believe are “business-critical”, located in some of India’s key gateway markets - Mumbai, Gurugram, Noida and Kolkata. Our Initial Portfolio totals 14.0 msf, comprising 10.3 msf of Completed Area, 0.1 msf of Under Construction Area and 3.7 msf of Future Development Potential. Initial Portfolio’s Completed Area has a Same Store Committed Occupancy of 92% (and a 87% Committed Occupancy, which includes the recently completed 0.5 msf at Candor Techspace N1) and is leased to marquee tenants with 75% of Gross Contracted Rentals contracted with multi-national corporations .
The Brookfield India Real Estate Trust is India’s only institutionally managed public commercial real estate vehicle. Sponsored by an affiliate of Brookfield Asset Management, one of the world’s largest alternative asset managers with approximately US$575 billion in assets under management, as of September 30, 2020, our goal is to be the leading owner of high quality income producing commercial real estate assets in key gateway Indian markets, which have significant barriers to entry.
| IPO Opens | IPO Closes | Price Band (₹/Sh) | Min Bid for Retail (₹) | Listing Date |
|---|---|---|---|---|
| 3-Feb-2021 | 5-Feb-2021 | 274 to 275 | 54,800 to 55,000 | 17-Feb-2020 |
Brookfield India Real Estate Trust is sponsored by an affiliate of Brookfield Asset Management
Sponsor
Brookfield India Real Estate Trust is sponsored by an affiliate of Brookfield Asset Management, one of the world’s largest alternative asset managers and investors, with approximately US$575 billion of assets under management, as of September 30, 2020, across real estate, infrastructure, renewable power, private equity and credit strategies. Brookfield Asset Management has a global presence of over 150,000 operating employees across more than 30 countries, as of September 30, 2020. Listed on the NYSE and TSX, it has a market capitalization of over US$63 billion as of September 30, 2020.
About Industry
Mumbai, Gurugram, Noida and Kolkata (the “Brookfield REIT Markets”) have exhibited strong market dynamics with robust absorption and limited high-quality supply resulting in lower vacancy levels and higher rental growth during the last five years. Between 2015 and Q3 2020, 45.2msf2 of non strata owned supply was delivered in the Brookfield REIT Markets, while the net absorption was 41.2 msf2. During the last five years, Grade-A business parks in Brookfield REIT Markets which are non strata owned have significantly outperformed strata owned office assets, in both occupancy and rental growth.
Key Pointers
- Sponsored by an affiliate of Brookfield Asset Management (“BAM”), one of the world’s largest alternative asset managers with ~US$575 billion in assets under management
- Assets in 4 locations in India
- Portfolio comprises 14.0 msf, with rights to acquire a further 8.3 mn sft and rights of first offer on an additional 6.7 mn sft, both currently owned by members of the Brookfield Group
- Of 14.0 mn sft, 10.3 mn sft of Completed Area, 0.1 mn sft of Under Construction Area and 3.7 mn sft of Future Development Potential.
- Completed Area has a Same Store Committed Occupancy of 92% (and a 87% Committed Occupancy
- Contracted Rentals contracted with MNC's such as Barclays, Bank of America Continuum, RBS, Accenture, Tata Consultancy Services and Cognizant etc
Key Management
| Alok Aggarwal | CEO |
| Sanjeev Kumar Sharma | CFO |
| Shantanu Chakraborty | Regional Head – North (Gurugram & Noida) |
| Vithal Suryavanshi | Regional Head – West (Mumbai & Pune)/td> |
| Ruhi Goswami | Compliance Officer |
Brookfield India REIT IPO Snapshot
| Issue Open | 3-Feb-2021 |
| Issue Close | 5-Feb-2021 |
| Tick Size | ₹ 1/- |
| Price Band | ₹ 274 to ₹ 275 (Including premium of ₹ 374 to ₹ 375 per share) |
| Discount | Nil |
| Bid Lot | 200 units and in multiples |
| Listing on | BSE and NSE |
| Mode of Payment | UPI / ASBA (Mandatory); Applications using third party UPI/ASBA Bank accounts are liable to rejected |
Brookfield India REIT Issue & Subscribed Details
| Particulars | Issued | Subscribed |
|---|---|---|
| Issue Size | ₹ 3,800 Crores (Upper Band) | ₹ - Crores |
| QIB Portion | ~75% | TBA times |
| NII Portion (Application for lot size of 15 & above) | ~25% | TBA times |
| Retail Portion (Applications for lot size between 1 & upto 15) | NA | NA |
| NA | NA | NA |
| Total | 100% | TBA times |
Brookfield India REIT IPO Indicative Dates
| Issue Open | 3-Feb-2021 |
| Issue Close | 5-Feb-2021 |
| Anchor Investor Bidding | One working day prior to Issue opening date of 3-Feb-2021 (around 2-Feb-2021) |
| Announcement of Allotment | 11-Feb-2021 |
| Initiation of Refunds | 12-Feb-2021 |
| Credit of Shares | 12-Feb-2021 |
| Listing (Commencement of trading on Stock Exchanges) | 17-Feb-2021 |
Lead Managers of Brookfield India REIT IPO
List of Book Running and Lead/Co-Lead Manager/s
Registrar of Brookfield India REIT IPO
| KFin Technologies Private Limited |
Valuation
Company is looking at the following valuation
| Issue Size | ₹ 3,800 Crores (Upper Band |
| Pre-Issue Promoter's Holding | 61.31% |
| Post Issue Promoter's Holding | TBA% |
| Pre-Issue Shares | 3.0 Crores |
| Post Issue Shares | TBA Crores |
| Post Issue Market Cap (based on Price band) | ₹ TBA to ₹ TBA Crores |
Address of Brookfield India REIT
| Name | Brookfield India Real Estate Trust |
| Incorporated | July 17, 2020 |
| Trust Registration No | IN/REIT/20-21/0004 |
| Contact Person | Ruhi Goswami, Compliance Officer |
| Registered and Corporate Office | : Candor TechSpace IT/ ITES SEZ, Building 5A/10, Sector-48, Tikri (Near Subash Chowk), Gurugram 122 018, Haryana, India; Tel: +91 22 6600 0700; Fax: +91 22 6600 0777 |
| Website | : www.brookfieldindiareit.in |
| reit.compliance@brookfield.com |
Check Allotment Status of Brookfield India REIT
| Please check below or visit here to check allotment status of IPO |
Source: DRHP, RHP, Company, Company Website | Logo/Images published in the article may be copyright of respective companies.
Frequently Asked Questions (FAQ)
| Q. How to Apply for IPO ? A. IPO can be applied Online and Offline mode. Online: a) Via Net banking of Bank website b) Via Stock brokers portal Offline: a) Collect application forms from Brokers > Fill demat details & UPI > Submit to any broker across India. b) Download forms from NSE/BSE website > Fill demat details & UPI > Submit to any broker across India. |
| Q. How to register for BHIM UPI? UPI is made mandatory by SEBI to apply for IPO's. To educate investors National Payment Corporation of India (NPCI) has come out with the useful video. This video educates on how to download BHIM UPI app and its process to register. Source: NPCI |
| What is UPI based ASBA Process ? To educate people to apply for IPO's National Payment Corporation of India (NPCI) has come out with the useful video. This video educates consumers on how the IPO process works and how subscribing for IPOs via BHIM UPI helps reduce the time and effort one needs to take for the same. Source: NPCI |
| Q3? Ans Source: NPCI |
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