Brookfield India REIT Proposes To Raise Up To Rs 5,000 Crore Via Sale Of Units

Brookfield India Real Estate Trust plans to raise up to Rs 5,000 crore through sales of units to institutional investors, as per a regulatory filing.

The board of directors of Brookprop Management Services Pvt Ltd., the manager of Brookfield India REIT, at its meeting held on Friday approved "issuance of units of Brookfield India REIT for an aggregate amount not exceeding Rs 50,000 million...". The units will be issued at a price not less than the rate to be determined in accordance with SEBI's guidelines for REIT to eligible investors through an institutional placement in one or more tranches, it added.

The company will take approvals from its unitholders.