Brookfield India Real Estate Investment Trust (REIT) has launched a qualified institutional placement issue to raise Rs 2,000 crore, sources told NDTV Profit on Thursday.
The sources added that the indicative issue price is seen at Rs 323 per share, a 2.1% discount to the stock’s current market price or CMP.
The offer comprises of 61.9 milion units, aggregating to around 8.3% of the total units in the trust. The funds raised will be used to pay debt, the sources explained.
Notably, Kotak Mahindra Capital, JM Financial and Avendus Capital are the bankers to the deal.
In March, the Trust had informed the exchanges that it was planning to raise up to Rs 4,000 crore through institutional placements of units to pare debt and fund future growth opportunities.
This is the second time in four months that the trust has raised funds through a QIP issue. Earlier in December, Brookfield India REIT had raised Rs 3,500 crore via issue of QIP.
In the same month, it had also Rs 2,000 crore through its maiden sustainability-linked bonds with the International Finance Corporation (IFC) as an anchor.
Towards the end of last month, the Trust named Shashank Jain as the Chief Executive Officer (CEO) and Managing Director of the firm managing the REIT. Jain will take charge of the trust from July 1, 2026 onwards; till June 30 then Alok Aggarwal will continue as CEO and MD.
What Is A QIP?
A Qualified Institutional Placement (QIP) is a capital-raising tool, introduced by SEBI in 2006, that allows listed Indian companies with a minimum of 25% to raise funds domestically from Qualified Institutional Buyers (QIBs) without submitting pre-issue filings to regulators.
The issue can comprise of fresh equity shares, fully and partly convertible debentures, or any securities other than warrants convertible to equity shares.
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