Brookfield Asset Management is seeking to raise Rs30bn (€432m) in an initial public offering (IPO) as it lists its India real estate investment trust (REIT).
The manager is selling 138.2-138.5m Brookfield REIT units at a price band of Rs274 to Rs275 per unit.
Brookfield REIT is expected to be listed on the Bombay Stock Exchange and the country’s National Stock Exchange (NSE).
The Canadian company said the initial 10.3m sqft portfolio would consist of four completed office parks, located in Mumbai, Noida, Gurugram, and Kolkata. Brookfield said that another 100,000sqft of space is currently under construction, and there is a pipeline of 3.7m sqft.
Brookfield REIT will use funds raised in the IPO to partially or fully repay existing debt, and for general corporate purposes, according to the IPO term sheet.
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