Brookfield India Real Estate Trust on Thursday (December 4) has launched a qualified institutional placement (QIP) to raise ₹3,500 crore, sources privy to the developments told CNBC-TV18.

The indicative price for the issue is ₹320 per unit, representing a 3.4% discount to the current market price. The QIP size amounts to 17.1% of the company’s pre-issue units, sources in the know told CNBC-TV18.

Proceeds from the fundraising will be allocated toward the acquisition of Ecoworld as well as repayment of existing debt.

Also Read: Brookfield-backed Avaada Electro files confidential DRHP for ₹10,000 crore IPO

Last week, unitholders of Brookfield India Real Estate Trust approved a proposal to raise funds through institutional placements in one or more tranches.

In a regulatory filing, the

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