The International Finance Corporation, along with WhiteOak Capital, HDFC Life Insurance, Axis Max Life Insurance, and PPFAS Mutual Fund, has emerged as a key institutional investor in the Qualified Institutional Placement (QIP) of Brookfield India Real Estate Trust. The REIT aims to raise ₹2,600 crore through this offering, according to individuals with direct knowledge of the development.
Initially, the company launched the issue with a base size of ₹2,000 crore; however, it subsequently increased the size by 30% through a greenshoe option. The offering will close later this week, reflecting strong investor participation.
“The issue size was increased on Friday following the robust response from investors. Around 90% of the book is allocated to long-only investors, and a large part of the overall book is for domestic institutional investors,” said one of the persons mentioned above.
Furthermore, the offering has attracted a diverse mix of global and domestic institutional investors, underscoring strong confidence in India’s commercial real estate and REIT market. At the same time, Brookfield India REIT plans to utilize the proceeds to support inorganic growth through strategic acquisitions and debt reduction initiatives.
Notably, the REIT has raised over ₹13,000 crore through five fundraising exercises since 2023, demonstrating consistent access to capital markets. In addition, the trust has actively expanded its portfolio through key acquisitions, including the Ecoworld office park in Bengaluru, the Candor TechSpace portfolio across Gurgaon, Noida, and Kolkata, and an additional tower at Candor TechSpace N2 in Noida.
In December, Brookfield India REIT completed the acquisition of a 100% stake in Ecoworld, a 7.7 million sq ft Grade A office campus located on the Outer Ring Road in Bengaluru. Consequently, the acquisition significantly expanded the REIT’s operational footprint and increased its consolidated gross asset value by 35%.
Moreover, the REIT’s operational asset portfolio has grown to over 32 million sq ft since its public listing in 2021, highlighting its rapid scale-up in India’s commercial real estate sector.
Meanwhile, Kotak Mahindra Capital, JM Financial, and Avendus Capital are acting as lead managers for the issue, ensuring structured execution and investor outreach.
Financially, Brookfield India REIT reported a 14% year-on-year increase in net operating income (NOI) to ₹540.4 crore for the October–December quarter, driven by higher leasing activity and improved occupancy across its office assets. On a same-store basis, NOI grew by 9% compared to the previous year, supported by lease-up momentum, mark-to-market gains, and contracted rental growth. Additionally, income from operating lease rentals rose by 13% to ₹500.3 crore during the third quarter of FY2025-26.
Brookfield India REIT’s ₹2,600 crore QIP reflects robust investor confidence in India’s real estate investment trust market and the broader commercial real estate sector. With strong participation from global and domestic institutional investors, coupled with strategic acquisitions and steady financial growth, the REIT continues to strengthen its market position.
