Brookfield India REIT plans to raise up to Rs 3,500 cr via issue of unitholders
The board of directors of Brookprop Management Services Pvt Ltd, the manager of Brookfield India Real Estate Trust, approved the issuance of units of Brookfield India REIT through an institutional placement of units not exceeding Rs 3500 crore in one or more placement, according to a regulatory filing on Thursday.
The proceeds will be used for the partial or full prepayment or repayment of the outstanding borrowings, equity contribution, general purposes, including funding operating expenses, funding capital expenditure, making investments in creditworthy instruments and/or future inorganic or organic growth opportunities, it added.
Brookfield India Real Estate Trust's adjusted net operating income rose to Rs 485.8 crore during July-September period from Rs 346.7 crore in the year-ago period.
On operational front, the company said it achieved 1 million (10 lakh) of gross leasing of office space on strong demand.
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