The announcement was made after market hours, with Brookfield India REIT’s share price closing at Rs 290.49 on the NSE, up Rs 3.59, or 1.25 per cent, from Friday’s closing price.
The issuance follows Brookfield India REIT unitholders’ approval of institutional funding for one or more units at a meeting to be held on Friday, November 29, 2024 .
The company said in an exchange filing that it plans to raise up to Rs 3,500 crore in one or more offerings.
“The Board of Management of Brookfield India REIT has approved a resolution for raising capital of up to Rs 3,500 crore in one or more tranches and has submitted the same for unitholder approval,” the company said in a statement. said.
“The funds raised will be used immediately for debt repayments and general corporate purposes. One of Brookfield India REIT’s strategies is organic growth through acquisitions. ” Reduced leverage creates headroom for future acquisitions Brookfield India REIT Sponsor Group Alok, Bangalore, Chennai and Hyderabad, commented on the development. Chief Executive Officer and Managing Director Aggarwal said, “We want to ensure the ability to acquire such grade A assets while maintaining optimized LTV levels with dual AAA ratings.” is similar to what we have done since our IPO, and we believe that our ability to raise institutional capital is critical to positioning our REIT for future growth in the near term. ” Brookfield India Real Estate Trust is India’s 100% is an institutionally managed office real estate investment trust, as per the claims on the website. The company’s portfolio comprises 10 Grade A assets across strategic locations in India, valued at Rs 36,800 crore as on September 30, 2024.
(Disclaimer: Recommendations, suggestions, views and opinions by experts are their own. They do not represent the views of Economic Times)
