Brookfield India's Ambitious QIP Launch Targets ₹3,500 Crore

Brookfield India Real Estate Trust has launched a Qualified Institutional Placement (QIP) to raise up to ₹3,500 crore. The funds will be directed towards debt repayment, operational expenses, and potential growth opportunities. The QIP issue was approved by both shareholders and the board of directors of Brookprop Management Services Pvt Ltd.

Brookfield India Real Estate Trust has initiated a Qualified Institutional Placement (QIP) aiming to accumulate a staggering ₹3,500 crore. The decision was sanctioned by the Issue Committee of Brookprop Management Services Pvt Ltd, the trust's managing entity.

The floor price for this issue has been set at ₹287.55 per unit, a figure slightly below Monday's BSE closing price of ₹290.73. Just last month, approval was obtained from unitholders to proceed with this significant capital raise.

The proceeds from this capital generation will serve multiple purposes: alleviating existing debts, covering operational expenses, and potentially funding future expansions or investments. Brookfield India REIT's portfolio includes prime real estate assets across major Indian cities like Delhi, Mumbai, and Kolkata.

(With inputs from agencies.)