Brookfield India REIT sells units to 64 investors through QIP to raise Rs.2,305-Cr

Brookfield India Real Estate Trust (BIRET) has raised over INR 2,305 crore through a qualified institutional placement (QIP). The significant investor interest led to a 50% upsizing of the offer.The base size of the issue was around INR 1,500 crore. The investors in the QIP include HDFC Life Insurance, HDFC Mutual Fund, SBI, 360 One (formerly IIFL), Morgan Stanley Asia and Ashoka India Opportunities Fund. The proceeds from the placement will be directed toward financing the acquisition of two large commercial assets from Brookfield Asset Management's private real estate funds.