Shares of Brookfield India’s Real Estate Investment Trust (REIT) got listed with a premium of 2.43 per cent at Rs 281.70 from the issue price of Rs 275 per unit on the NSE.
On BSE, however, the stock listed flat at Rs 275.05. Later, it jumped 1.83 per cent to Rs 280.05.
The Rs 3,800-crore initial public offer of Brookfield India REIT was subscribed 8 times earlier this month. It had a price band of Rs 274-275 apiece.
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The portion kept for institutional investors witnessed 4.8 times subscription while the other was subscribed 11.7 times.
Brookfield REIT has become the third listed trust in India.
The first one Embassy Office Parks REIT, backed by Blackstone and Embassy group, got listed in April 2019 after raising Rs 4,750 crore.
Mindspace Business Parks REIT, owned by K Raheja and Blackstone, was listed in August last year and had raised Rs 4,500 crore.
REIT is aimed at attracting investment in the real estate sector by monetising rent-yielding assets. It helps unlock the massive value of real estate assets and enable retail participation.
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