MUMBAI : The initial public offer (IPO) of Canadian alternative asset manager Brookfield's maiden Indian REIT - Brookfield India Real Estate Trust- successfully closed on Friday, witnessing a subscription of 7.97 times. The Brookfield REIT offer received bids for 60.59 crore units against the IPO size of 7.62 crore units, according to the data available on the exchanges. Brookfield REIT will be the third listed real estate investment trust in India. The Brookfield REIT comprises of Grade-A commercial assets located in 4 major cities - Mumbai, Gurugram, Noida and Kolkata. "At ₹275 per unit, Brookfield REIT is expected to give a pre-tax yield of 7.95 percent in FY22 and 8.43 percent in FY23.

Source: Mint February 05, 2021 14:37 UTC