IFC, domestic funds back Brookfield India REIT’s Rs 2,600-cr QIP

MUMBAI: The World Bank Group member, International Finance Corporation (IFC), along with Whiteoak Capital, HDFC Life Insurance, Axis Max Life Insurance and PPFAS Mutual Fund, are among the institutional investors in Brookfield India Real Estate Trust’s Qualified Institutional Placement (QIP), which is set to raise Rs 2,600 crore, said persons with direct knowledge of the development.

The issue, started with a base size of Rs 2,000 crore, was upsized through a 30% greenshoe option and closes this week.

“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.


The offering has drawn participation from a mix of global and domestic institutional investors, he added.

The listed REIT is raising the funds to support its inorganic growth through acquisitions and debt repayment. It has so far raised over Rs 13,000 crore through five such fundraising exercises since 2023.

The trust’s recent acquisitions include 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. The acquisition increased the REIT’s operating area and consolidated gross asset value by 35%.

The REIT’s operational assets portfolio has increased to over 32 million sq ft at present as against 10 million sq ft at the time of its public listing in 2021.

Kotak Mahindra Capital, JM Financial, and Avendus Capital are the lead managers to the issue.

ET’s separate email queries to IFC, Whiteoak Capital, HDFC Life Insurance, Axis Max Life Insurance and PPFAS Mutual Fund remained unanswered. Brookfield India REIT declined to comment for the story.

The REIT reported a 14% year-on-year increase in net operating income at Rs 540.4 crore for the October-December quarter, driven by higher leasing and improved occupancy across its office portfolio.

On a same-store basis, net operating income increased 9% from a year ago, supported by lease-up, mark-to-market and contracted rent growth. Income from operating lease rentals grew 13% to Rs 500.3 crore during the third quarter of 2025-26

Brookfield is one of the largest office owners and operators in India with over 55 million square feet across seven cities in India, including Cowrks, a premium flexible workspace operator.