Brookfield India REIT to raise Rs. 5000 crores

The Board of Directors of Brookprop Management Services Private Limited, the manager of Brookfield India Real Estate Trust ("Brookfield India REIT") at its meeting held on Friday, May 27, 2022, through Audio-Visual Electronic Communication has, approved issuance of units of Brookfield India REIT for an aggregate amount not exceeding ₹ 50,000 million at a price not less than the price to be determined in accordance with provisions in relation to institutional placement in the Master Circular for Real Estate Investment Trust dated April 26, 2022 issued by the Securities and Exchange Board of India (as amended or clarified, the "Circular") to eligible investors through an institutional placement(s) in one or more placements.

The board also approved the convening of an extraordinary meeting of unitholders of Brookfield India REIT and issue of notice for such extraordinary meeting to be held on Thursday, June 23, 2022 at 11:30 a.m. through video-conferencing / other audio visual means, for seeking approval of the unitholders for raising of funds through an institutional placement(s) of units of Brookfield India REIT for an aggregate amount not exceeding ₹ 50,000 million in one or more placements.

Shares of Brookfield India Real Estate Trust REIT was last trading in BSE at Rs. 332.00 as compared to the previous close of Rs. 335.20. The total number of shares traded during the day was 5158 in over 236 trades.

The stock hit an intraday high of Rs. 339.00 and intraday low of 331.00. The net turnover during the day was Rs. 1720417.00.

Source : Equity Bulls

Keywords

BrookfieldIndiaRealEstateTrust REIT FundRaising InstitutionalPlacement