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Brookfield India to open IPO on February 03, 2021

Brookfield India to open IPO on February 03, 2021 1

The initial public offering (“IPO”) of Brookfield India Real Estate Trust (“Brookfield REIT”), India’s only 100% institutionally managed public commercial real estate vehicle, will open on February 03, 2021 at a price band of Rs 274 to Rs 275. Brookfield REIT is issuing Units aggregating up to ₹38,000 million (“Issue”). The Issue is being undertaken in reliance upon Regulation 14(1) of the Securities and Exchange Board of India (Real Estate Investment Trusts) Regulations, 2014, as amended (the “REIT Regulations”).

The Units of Brookfield REIT are proposed to be listed on BSE Limited (“BSE”) and National Stock Exchange of India Limited (“NSE”, together with BSE, the “Stock Exchanges”). The Brookfield REIT has received in-principle approvals from BSE and NSE for listing of our Units pursuant to letters dated November 2, 2020 and November 5, 2020, respectively. BSE is the Designated Stock Exchange for the Issue.

The Net Proceeds from the Issue will be utilised towards the following objects: (i) Partial or full pre-payment or scheduled repayment (in accordance with the deployment of Net Proceeds specifics set forth under ‘Use of Issue Proceeds – Requirements of Funds’ on page 219 of the Offer Document dated January 27, 2021 (“Offer Document”) of the existing indebtedness of Asset SPVs; and (ii) general purposes.

The Issue is being made through the Book Building Process and in compliance with the REIT Regulations and the SEBI Guidelines (as defined in the Offer Document), wherein not more than 75% of the Issue shall be available for allocation on a proportionate basis to Institutional Investors, provided that the Manager may, in consultation with the Lead Managers, allocate up to 60% of the Institutional Investor Portion to Anchor Investors on a discretionary basis in accordance with the REIT Regulations and the SEBI Guidelines.

Further, not less than 25% of the Issue shall be available for allocation on a proportionate basis to Non-Institutional Investors, in accordance with the REIT Regulations and the SEBI Guidelines, subject to valid Bids being received at or above the Issue Price. The Manager in consultation with the Lead Managers, may retain oversubscription in the Issue in accordance with the REIT Regulations and the SEBI Guidelines.

All Bidders, other than Anchor Investors, are required to mandatorily utilise the Application Supported by Blocked Amount (“ASBA”) process by providing details of their respective bank accounts which will be blocked by the Self Certified Syndicate Banks (“SCSBs”), to participate in this Issue.

Bids can be made for a minimum lot of 200 Units and in multiples of 200 Units thereafter by Bidders other than the units subscribed for by Anchor Investors.

Axis Trustee Services Limited is the Trustee, while BSREP India Office Holdings V Pte. Ltd. is the Sponsor. Brookprop Management Services Private Limited is the Manager.

The Global Coordinators and Book Running Lead Managers (“GCBRLMs”) to the Issue are Morgan Stanley India Company Private Limited, BofA Securities India Limited, Citigroup Global Markets India Private Limited and HSBC Securities and Capital Markets (India) Private Limited. Book Running Lead Managers (“BRLMs”) to the Issue are Ambit Private Limited, Axis Capital Limited, IIFL Securities Limited, JM Financial Limited, J.P. Morgan India Private Limited, Kotak Mahindra Capital Company Limited and SBI Capital Markets Limited.

Disclaimers:

SEBI Disclaimer

It is to be distinctly understood that submission of offer document to SEBI should not in any way be deemed or construed that the same has been cleared or approved by SEBI. SEBI does not take any responsibility either for the financial soundness of any scheme or the project for which the issue is proposed to be made or for the correctness of the statements made or opinions expressed in the offer document.

NSE Disclaimer

It is to be distinctly understood that the permission given by NSE should not in any way be deemed or construed that the Offer Document has been cleared or approved by NSE nor does it certify the correctness or completeness of any of the contents of the Offer Document. The investors are advised to refer to the Offer Document for the full text of the Disclaimer clause of NSE.

BSE Disclaimer (Designated Stock Exchange)

It is to be distinctly understood that the permission given by BSE Limited should not in any way be deemed or construed that the Offer Document has been cleared or approved by BSE Limited nor does it certify the correctness or completeness of any of the contents of the Offer Document. The investors are advised to refer to the Offer Document for the full text of the Disclaimer clause of the BSE Limited.

BROOKFIELD INDIA REAL ESTATE TRUST, acting through its Manager, is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its Units representing an undivided beneficial interest in Brookfield India Real Estate Trust, and has filed the Offer Document with SEBI and the Stock Exchanges. The Offer Document is available on the website of SEBI at www.sebi.gov.in, BSE at www.bseindia.com, NSE at www.nseindia.com as well as on the websites of GCBRLMs, i.e. www.morganstanley.com, www.ml-india.com, www.online.citibank.co.in/rhtm/citigroupglobalscreen1.htm and https://www.business.hsbc.co.in/en-gb/in/generic/ipoopen-offer-and-buyback and websites of BRLMs, i.e. www.ambit.co, www.axiscapital.co.in, www.iiflcap.com, www.jmfl.com, www.jpmipl.com, www.investmentbank.kotak.com and www.sbicaps.com, respectively. Potential investors should note that investment in the Units involves a degree of risk, and for details relating to the same, should refer to the section “Risk Factors” beginning on page 30 of the Offer Document. Potential investors should not rely on the Draft Offer Document for any investment decisions.

This announcement has been prepared for publication in India and may not be released in the United States. This announcement is not an offer to sell, nor a solicitation of any offer to buy, securities of Brookfield India Real Estate Trust in the United States. The Units have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws in the United States, and unless so registered may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable state securities laws. Accordingly, the Units are being offered and sold (i) outside of the United States in offshore transactions in reliance on Regulation S under the U.S. Securities Act and the applicable laws of the jurisdiction where those offers and sales occur; and (ii) to “qualified institutional buyers” (as defined in Rule 144A under the U.S. Securities Act), pursuant to section 4(a) of the U.S. Securities Act or another available exemption from the registration requirements of the U.S. Securities Act.

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