Media & Events
Shardul Amarchand Mangaldas advises Brookfield India Real Estate Trust for funding the acquisition of commercial property
August 21, 2023
Shardul Amarchand Mangaldas advised Brookfield India Real Estate Trust (Issuer) on Institutional Placement of 91,301,349 units aggregating to ₹ 23,053.59 million for the purpose of funding the acquisition of commercial properties in Downtown Powai, Mumbai, and Candor TechSpace, Gurugram. The deal was valued at approximately USD 288.16 million and the expected date of closing the issue was 1 August 2023.
The Brookfield India Real Estate Trust is India’s third listed real estate investment trust and this was the second institutional placement by a listed Indian Real Estate Investment Trust (REIT).
The deal was facilitated through an amendment to the applicable pricing guidelines based on representations made by the deal team at Shardul Amarchand Mangaldas.
The deal team comprised Nikhil Naredi, Partner; Priya Awasthi, Principal Associate; Harsh Loonker, Senior Associate; Harini Jambunathan, Associate; Somya Jena, Associate.
The corporate team comprised Jay Gandhi, Partner; Abhishek Parekh, Partner; Natalee Nanda, Principal Associate; Namrata Mehta, Senior Associate; Harshita Saraf, Associate; Divija Kothari, Associate.
Sidley Austin LLP advised the issuer on the International legal aspect.
White & Case Pte. Ltd. advised the BofA Securities India Limited, Morgan Stanley India Company Private Limited, Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited, Axis Capital Limited, Jefferies India Private Limited, IIFL Securities Limited, JM Financial Limited, SBI Capital Markets Limited, BOB Capital Markets Limited and ICICI Securities Limited (“Book Running Lead Managers”) on the international legal aspect.
