Brookfield India Real Estate Trust has launched a qualified institutional placement at a floor price of Rs 287.55 per equity share, according to an exchange filing.
In a meeting held on Monday, the issue committee of the board of directors of Brookprop Management Services Pvt. Ltd., which is the manager of Brookfield India REIT, approved the opening of the issue on Dec. 9. for receiving bids, as per an exchange filing.
-
Indian Markets Turning Corner After Two Tough Years, Says Sandeep Tandon -
NDTV Profit Ignite 2026: Experts See Opportunity In Equities, Stay Bullish For Long-Term -
Buy Right, Sit Tight Does Not Work for Individual Stocks, Says Dinshaw Irani -
'Worst Is Behind': Quant MF Sees Market Bottom, Flags 'Extreme Euphoria' In Midcaps -
India's Mutual Fund Industry Could Become A $1 Trillion Opportunity, Say Fund Managers -
'Foreign Investors Are Baraatis': Raamdeo Agrawal's Take On LTCG Tax -
Stay Invested Through Market Cycles: Raamdeo Agrawal at NDTV Profit Ignite -
Ramesh Damani Remains Bullish On India For Next 20-30 Years, Sees Bargains Amid Market Weakness -
CAS Came After A Long Consultation Process: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFIT IGNITE -
Aim To Cut FPI Onboarding Time From Mth To Five Days: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFI
The company has approved and adopted the preliminary placement document dated Dec. 9, 2024, and the application form in connection with the issue, the filing said.
The trading window will continue to remain closed in terms of the provisions of SEBI (Prohibition of Insider Trading) Regulations, 2015, circulars issued by the stock exchanges, and policy on unpublished price-sensitive information.
As per the exchange filing, the trading window will also continue to remain closed in terms of dealing in units of Brookfield India REIT for all the designated persons and their relatives until the expiry of 48 hours post announcement of the allotment of units in the issue, or until the window is opened by the compliance officer, whichever is later, the filing said.
Earlier on Nov. 7, the company reported a 40% increase in net operating income to Rs 485.8 crore for the September quarter and announced plans to raise up to Rs 3,500 crore through the issue of units to institutional investors to reduce debt as well as to fund future growth.
Shares of Brookfield India REIT closed 1.67% higher at Rs 291.70 apiece, compared to a 0.24% decline at the benchmark NSE Nifty 50. It has risen 13.55% in the last 12 months.
Thirteen out of the 14 analysts tracking the company have a 'buy' rating on the stock, and one suggests a 'hold,' according to Bloomberg data. The average of 12-month analyst price targets implies a potential upside of 9.3%.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.