Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

Brookfield India Real Estate Trust / Equity Capital Markets

<div><p><a href="https://www.smartkarma.com/entities/brookfield-india-real-estate-trust" target="_blank" data-smartkarma-citation="entities:31036:1" rel="noopener">Brookfield India Real Estate Trust (BIREIT IN)</a> (BREIT from hereon) aims to raise up to US$600m in its India IPO. BREIT aims to be the leading owner of high quality income producing commercial real estate assets in key gateway Indian markets. Its initial portfolio consists of 14.0msf, with call options to acquire a further 8.3msf and rights of first offer on an additional 6.7msf.</p></div><div><p>Its initial portfolio consists of four large campus-format office parks located in Mumbai, Gurugram, Noida and Kolkata. Of the initial 14msf, 9.8msf was completed, 0.6msf was under construction and 3.6msf was reserved for future development potential. The initial portfolio is 96% occupied and had a weighted average lease expiry (WALE) of 6.8 years.</p></div><div>
<p>The portfolio has recorded steady net operating income (NOI) growth in the past of 6.46% and 7.64% in FY19 and FY20, respectively. Future growth as well appears promising with NOI for the initial portfolio expected to grow by 20% over FY20-23. The call and ROFO assets provide further avenues for growth.</p>
<p>In my previous note, I spoke about the positive aspects of the deal, <a href="https://www.smartkarma.com/insights/brookfields-india-real-estate-trust-pre-ipo-the-positives-provides-different-geographic-exposure" target="_blank" rel="noopener">Brookfields India Real Estate Trust Pre-IPO - The Positives- Provides Different Geographic Exposure</a>.</p>
<p>In this note, I'll talk about the not so flattering aspects.</p>
</div>

Brookfield India Real Estate Trust (BIREIT IN) (BREIT from hereon) aims to raise up to US$600m in its India IPO. BREIT aims to be the leading owner of high quality income producing commercial real estate assets in key gateway Indian markets. Its initial portfolio consists of 14.0msf, with call options to acquire a further 8.3msf and rights of first offer on an additional 6.7msf.Its initial portfolio consists of four large campus-format office parks located in Mumbai, Gurugram, Noida and Kolkata. Of the initial 14msf, 9.8msf was completed, 0.6msf was under construction and 3.6msf was reserved for future development potential. The initial portfolio is 96% occupied and had a weighted average lease expiry (WALE) of 6.8 years.
The portfolio has recorded steady net operating income (NOI) growth in the past of 6.46% and 7.64% in FY19 and FY20, respectively. Future growth as well appears promising with NOI for the initial portfolio expected to grow by 20% over FY20-23. The call and ROFO assets provide further avenues for growth.
In my previous note, I spoke about the positive aspects of the deal, Brookfields India Real Estate Trust Pre-IPO - The Positives- Provides Different Geographic Exposure.
In this note, I'll talk about the not so flattering aspects.


Brookfields India Real Estate Trust Pre-IPO- The Negatives- Asset Details Leave Questions Unanswered

<p><a href="https://www.smartkarma.com/entities/brookfield-india-real-estate-trust" target="_blank" data-smartkarma-citation="entities:31036:1" rel="noopener">Brookfield India Real Estate Trust (BIREIT IN)</a> (BREIT from hereon) aims to raise up to US$600m in its India IPO. BREIT aims to be the leading owner of high quality income producing commercial real estate assets in key gateway Indian markets. Its initial portfolio consists of 14.0msf, with call options to acquire a further 8.3msf and rights of first offer on an additional 6.7msf.</p><p>Its initial portfolio consists of four large campus-format office parks located in Mumbai, Gurugram, Noida and Kolkata. Of the initial 14msf, 9.8msf was completed, 0.6msf was under construction and 3.6msf was reserved for future development potential. The initial portfolio is 96% occupied and had a weighted average lease expiry (WALE) of 6.8 years.</p><p>The portfolio has recorded steady net operating income (NOI) growth in the past of 6.46% and 7.64% in FY19 and FY20, respectively. Future growth as well appears promising with NOI for the initial portfolio expected to grow by 20% over FY20-23. The call and ROFO assets provide further avenues for growth.</p>

Brookfield India Real Estate Trust (BIREIT IN) (BREIT from hereon) aims to raise up to US$600m in its India IPO. BREIT aims to be the leading owner of high quality income producing commercial real estate assets in key gateway Indian markets. Its initial portfolio consists of 14.0msf, with call options to acquire a further 8.3msf and rights of first offer on an additional 6.7msf.Its initial portfolio consists of four large campus-format office parks located in Mumbai, Gurugram, Noida and Kolkata. Of the initial 14msf, 9.8msf was completed, 0.6msf was under construction and 3.6msf was reserved for future development potential. The initial portfolio is 96% occupied and had a weighted average lease expiry (WALE) of 6.8 years.The portfolio has recorded steady net operating income (NOI) growth in the past of 6.46% and 7.64% in FY19 and FY20, respectively. Future growth as well appears promising with NOI for the initial portfolio expected to grow by 20% over FY20-23. The call and ROFO assets provide further avenues for growth.

Brookfields India Real Estate Trust Pre-IPO - The Positives- Provides Different Geographic Exposure

India

Brookfield India Real Estate Trust operates a a real estate investment trust. the company invest in and manages portfolio of technology and retails assets. brookfield India Real Estate Trust serves customers in India

Brookfield India Real Estate Trust (BIRET IN)

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Brookfield India Real Estate Trust (BIRET IN)

Brookfields India Real Estate Trust Pre-IPO- The Negatives- Asset Details Leave Questions Unanswered

Brookfield India Real Estate Trust aims to raise up to US$600m in its India IPO. BREIT aims to be the leading owner of high quality income...

Sumeet Singh

Brookfields India Real Estate Trust Pre-IPO - The Positives- Provides Different Geographic Exposure

Brookfield India Real Estate Trust aims to raise up to US$600m in its India IPO. BREIT aims to be the leading owner of high quality income...

Sumeet Singh

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)