Brookfield India Real Estate Trust which is tapping the capital markets with its initial public offering of Rs 3,800 crs, completed allocation to anchor investors. The company allotted 6,21,80,800 units to 33 anchor investors comprising of 39 entities. The issue is priced in a band of Rs 274-275. The public issue opens on Wednesday the 3rd of February and closes on Friday the 5th of February.

The highest allocation of 1,27,63,600 units or 20.5% has been made to 2 entities of HDFC. This is followed by SBI Life who has been allotted 83,63,600 units or 13.5% of the anchor portion. The third highest is to TATA AIG who has been allotted 61,81,800 units or 9.9%. This effectively means that the top three anchor investors which incidentally happen to be all domestic, have been allotted 43.9% of the total anchor book.

One always thought that with India and the real estate market in particular being so hot and sought after, Brookfield with its international expertise and dominance in the REIT market globally, would bring pedigreed investors through this REIT to India. It appears all those thoughts are belied and that is the reason that though a REIT is allowed allotment to Strategic Investors which come with a lock in of six months, they chose not to do so. The overall allotment to FPI’s is just about a third while it is slightly more than 2/3rd to domestic institutions.

The full details of anchor investors and their allotment is given below: –