MUMBAI: The International Finance Corporation (IFC), a member of the World Bank Group, in collaboration with Whiteoak Capital, HDFC Life Insurance, Axis Max Life Insurance, and PPFAS Mutual Fund, is participating in Brookfield India Real Estate Trust’s Qualified Institutional Placement (QIP) aimed at raising ₹2,600 crore, according to sources familiar with the matter.
The initial issue, set at ₹2,000 crore, was increased with a 30% greenshoe option due to strong investor interest, and is expected to close this week.
“The issue size was raised on Friday following enthusiastic responses from investors. Approximately 90% of the allocation went to long-only investors, with a significant portion directed towards domestic institutional investors,” stated one source.
This offering has attracted a diverse range of both global and domestic institutional investors. The funds raised will support the trust’s growth through acquisitions and debt repayments, adding to the over ₹13,000 crore raised through five funding rounds since 2023.
Recent acquisitions by the trust include the Ecoworld office park in Bengaluru, the Candor TechSpace portfolio in Gurgaon, Noida, and Kolkata, as well as an additional tower at Candor TechSpace N2 in Noida.
In December, Brookfield India REIT successfully acquired a 100% stake in Ecoworld, a 7.7 million sq ft Grade A office campus located on Bengaluru’s Outer Ring Road. This acquisition boosted the trust’s operational area and overall gross asset value by 35%.
The REIT’s operational assets have now expanded to over 32 million sq ft, compared to just 10 million sq ft at the time of its public listing in 2021.
Kotak Mahindra Capital, JM Financial, and Avendus Capital are serving as the lead managers for this issue.
RealtyDailyNews’s inquiries to IFC, Whiteoak Capital, HDFC Life Insurance, Axis Max Life Insurance, and PPFAS Mutual Fund went unanswered. Brookfield India REIT opted not to comment.
For the October-December quarter, the REIT reported a 14% year-on-year rise in net operating income, reaching ₹540.4 crore, fueled by increased leasing and improved occupancy across its office portfolio. On a same-store basis, net operating income grew by 9% year-over-year, supported by lease-up and rental growth. Revenue from operating lease rentals also surged 13% to ₹500.3 crore during Q3 of 2025-26.
Brookfield is among the largest office owners and operators in India, managing over 55 million square feet across seven cities, including Cowrks, a provider of premium flexible workspaces.
