Brookfield India REIT lists flat
By
Ruma Dubey
about 4 years ago
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There was a new listing today - Brookfield India Real Estate Trust. Considering the way in which other IPOs have got listed, this was very flat. As against an issue price of Rs.275 it got listed at Rs.275, a premium of just 2.5%.
The IPO was subscribed 7.9x with both, Qualified Institutional Investors as well as Non-Institutional Investors oversubscribing their quota of the issue.
This is the third REIT IPO after Embassy Office Parks REITnd and Mindspace Business Parks REIT in 2020.
In our New Issue Analysis, we had concluded, “Unattractive yield over peer and expected rise in interest rates over next few quarters make the risk reward unfavourable. Hence, we advise giving Brookfield REIT a ‘miss’.”