Brookfield India REIT QIP: ₹2,000 crore fundraise plan

What Brookfield India REIT announced on April 16

Brookfield India Real Estate Trust (Brookfield India REIT) has entered another capital-raise phase by launching a qualified institutional placement (QIP), according to multiple industry sources cited by Moneycontrol. In a stock exchange disclosure issued late on April 16, the REIT said its board of directors approved the opening of the issue with a floor price of ₹329.94 per unit. The exchange filing did not disclose the total size of the QIP.

People familiar with the deal told Moneycontrol that the QIP has a base size of ₹2,000 crore. They also said a green-shoe option may be used to increase the size beyond the initial plan, depending on investor demand. Moneycontrol reported the sources spoke on condition of anonymity.

Deal structure: base size and green-shoe option

The key detail from sources is that Brookfield India REIT is looking to raise ₹2,000 crore as the base issue size. The possibility of an upsize through a green-shoe option suggests the REIT is keeping flexibility on how much equity it finally issues, subject to bids from qualified institutional buyers.

The company’s exchange disclosure, however, only confirmed the floor price and the opening of the issue. Investors typically track the floor price as it sets the minimum level at which units can be issued under the QIP process.

Investment banks advising the issue

Moneycontrol reported that Kotak Mahindra Capital, Avendus Capital and JM Financial are the investment banks working on this QIP. Brookfield Asset Management and the bankers did not immediately respond to Moneycontrol’s request for comment, as per the report.

Why the REIT is raising money again

This QIP is the second fundraise by the REIT in recent months. Brookfield India REIT describes itself as “India’s only 100 per cent institutionally managed office REIT”.

In a separate regulatory context shared earlier, Brookfield India REIT’s board approved an enabling resolution on March 12 for issuance of units through one or more institutional placements up to ₹4,000 crore (₹40,000 million), in line with SEBI’s REIT regulations and the SEBI master circular for REITs dated July 11, 2025. The disclosure said the enabling resolution was aimed at creating “dry powder” for future growth opportunities, capital commitments, and interim debt reduction.

Recent capital raises: December QIP and other funding actions

Brookfield India REIT raised ₹3,500 crore in December through another QIP. In a regulatory filing, the company said that issue was oversubscribed by more than three times and included participation from a mix of existing and new investors such as SBI Mutual Fund, PPFAS, Kotak Mutual Fund, Birla Mutual Fund, Nippon Mutual Fund, UTI Mutual Fund, White Oak, LIC, IFC, HDFC Life, Max Life, Kotak Life and 360 One.

The company also said it has raised ₹8,000 crore in the last 12 months (as stated in the filing cited in the provided text). In another funding move referenced in the material, Brookfield India REIT raised ₹2,000 crore through the issuance of sustainability-linked bonds (five-year tenor), with proceeds earmarked to provide shareholder loans to select REIT entities and for general corporate requirements.

Asset growth backdrop: the Ecoworld acquisition and portfolio scale

The December QIP proceeds were linked to funding the acquisition of Ecoworld, described as a Grade A, 48-acre, 7.7 million square feet office campus on Outer Ring Road (ORR), Bengaluru. The company said the portfolio would exceed 32 million square feet of operating portfolio post acquisition, with gross asset value (GAV) of more than ₹53,000 crore.

Separately, the provided information notes Brookfield India REIT’s portfolio consists of 29.1 million square feet of total leasable area, comprising 24.6 million square feet of operating area, 0.6 million square feet under construction, and 3.9 million square feet of future development potential. It also states the REIT manages 10 Grade A assets across Delhi, Mumbai, Gurugram, Noida and Kolkata.

Market snapshot: unit performance and market capitalisation

At the end of trade on April 16, Brookfield India REIT had a market capitalisation of ₹24,703 crore, according to the provided text. The unit price has risen by more than 16 percent over the last year.

The material also includes a market data snapshot listing market cap at ₹28,571 crore along with valuation and balance-sheet ratios. These snapshots can differ from day-end figures depending on the source and timestamp, but both numbers are included here as they appear in the provided information.

Management update: new CEO and MD from July 1

Brookfield India REIT appointed Shashank Jain of PwC India as its new CEO and Managing Director last month, as per the provided text. Jain will take over from current CEO and MD Alok Agarwal on July 1.

Key facts table: QIP and related fundraising details

What investors will watch next

For investors tracking listed REITs, the two immediate variables are the final QIP issue size (since the company filing did not state it) and the eventual issue price relative to the floor price of ₹329.94 per unit. Another watchpoint is the stated objective of building “dry powder” for growth and interim debt reduction, especially given the REIT’s recent acquisition-led expansion.

The management transition on July 1, when Shashank Jain takes over as CEO and MD, will also be tracked closely for any updates on capital allocation priorities and integration of recently acquired assets.