Brookfield India REIT shares close over 2 pc down in debut trade

Shares of Brookfield India Real Estate Investment Trust on Tuesday closed the day over 2 per cent lower in its debut trade against its issue price of Rs 275.On the BSE, the stock listed flat at Rs 275.05.

Shares of Brookfield India Real Estate Investment Trust on Tuesday closed the day over 2 per cent lower in its debut trade against its issue price of Rs 275.

On the BSE, the stock listed flat at Rs 275.05. During the day it jumped 1.83 per cent to Rs 280.05. Later it closed at Rs 269.96, registering a decline of 1.8 3 per cent.

On the NSE, it listed with a premium of 2.43 per cent at Rs 281.70 from the issue price. It later closed at Rs 269.20, lower by 2.10 per cent.

In traded volume terms, 12.70 lakh shares were traded at the BSE and over 82.81 lakh units at the NSE during the day.

The initial public offer of Brookfield India Real Estate Investment Trust (REIT) was subscribed 8 times earlier this month.

The Rs 3,800-crore initial public offer of Brookfield India REIT had a price band of Rs 274-275 apiece.

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.