BROOKFIELD INDIA REAL ESTATE INVESTMENT TRUST IPO

Brookfield India Real Estate Trust or Brookfield REIT is sponsored by an affiliate of Brookfield Asset Management (BAM). BAM is one of the world’s largest alternative asset managers with an AUM (Assets Under Management) of approximately US$550 billion as of 30th June 2020. Brookfield REIT is India’s only public commercial real estate vehicle that is managed institutionally.

The goal of the company is to be the leading owner in Indian markets having high-quality income-producing assets.

What are REITs?

REIT stands for Real Estate Investment Trust which owns, operates, and finances income-generating real estate assets. They pool investments from numerous investors just like mutual funds. REIT helps the investors benefit from the growth in the real estate markets without buying, managing, or financing any property by themselves. REITs earn a stable rental income and offer high dividend yields.

About Brookfield REIT

Brookfield REIT has four large campus format office parks, which they believe are business-critical. The office parks are located in Mumbai, Kolkata, Gurugram, and Noida. Its portfolio has a total of 14.0 msf, which comprises 10.3 msf of completed area, 0.1 msf of under-construction area, and 3.7 MSF of future development potential. The completed area of the portfolio is 92% occupied.

The company has a rental contract with big MNCs like Bank of America Continuum, Barclays, RBS, Accenture, Cognizant, and Tata Consultancy Services.

The promoter of the company is BSREP India Office Holdings V Pte.

Strengths:

It has a global sponsorship of one of the world’s largest alternate asset managers along with local expertise.
It has placemaking capabilities
It has significant internal & external growth opportunities
It has dominant & strategically located properties.
The diversified bluechip tenant roster and a stabilized cash flow.
Backed with an experienced senior management team.
It has an institutional corporate governance framework which has lead to a good track record of high standards in corporate governance.

Purpose of the IPO:

To make partial/full repayments or prepayment of the indebtedness of their asset SPVs.
To meet the costs of the general corporate purposes.

Financial Performance of the company:

	FY 2020	FY 2019	FY 2018
Total Revenue	981.39	895.91	821.84
Total Expenses	1,189.46	875.72	697.07
Profit after tax	15.12	-15.74	161.08
Total Assets	5,378.05	5,043.69	4,893.29

*All the values are in crores and as per DRHP.

Brookfield India Real Estate Trust DRHP

IPO details:

Face Value	₹10 Per Equity Share
Market Lot	200 Shares
Minimum Order Quantity	200 Shares
Price Band	₹274 - ₹275 Per Equity Share
Issue type	Book Built Issue REIT
Issue Size	₹3,800 Crores
Fresh Issue	₹3,800 Crores
Offer for Sale	-
Listing	BSE, NSE

Important IPO dates:

Open Date	03rd February 2021
Close Date	05th February 2021
Allotment Date	11th February 2021
Initiation of Refunds	12th February 2021
Credit of shares to Demat Account	12th February 2021
Listing Date	17th February 2021

Allocation Quota:

Category	Portion
Qualified Institutional Buyers (QIBs)	Not more than 75%
Non- Institutional Buyers (NIIs)	Not less than 25%

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