Brookfield India REIT Raises ₹2,305 Cr via QIP

03 Aug 2023 CW Team

Brookfield India Real Estate Trust (BIRET), a Real Estate Investment Trust (REIT), has successfully completed a capital raise of ₹23.05 billion through a qualified institutional placement (QIP). The QIP saw participation from both existing and new Indian and global investors.

The funds raised through the placement will be used to finance the acquisition of two large commercial assets from Brookfield Asset Management's private real estate funds. On May 18, BIRET and GIC jointly announced their plan to acquire two commercial properties, totaling 6.5 million square feet, located in Brookfield's Downtown Powai, Mumbai, and Candor TechSpace (G1), Gurugram. The acquisition will be made in an equal partnership with GIC, at a combined enterprise value of ₹112.25 billion.

In order to fund these acquisitions, BIRET had introduced a QIP on July 27, 2023. The issuance and allotment of Rs 91.3 billion new units to 64 eligible investors through this QIP were approved by the Issue Committee of the Board of Directors of Brookprop Management Services Private Limited, the manager of Brookfield India Real Estate Trust, on August 2, 2023.

Ankur Gupta, Managing Partner, Head of Real Estate for the APAC region at Brookfield, expressed that the capital raise has not only expanded and diversified their investor base but also serves as a testament to the quality of office portfolio they have built in the country.

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..