Sidley Advises Brookfield India Real Estate Trust on Its US$390 Million QIP

Sidley advised Brookfield India Real Estate Trust (Brookfield India REIT) on its US$390 million qualified institutional placement (QIP) of equity units, underwritten by Kotak Mahindra Capital, JM Financial, Jefferies, Elara Capital, and 360 ONE WAM.

This transaction marks the third QIP by Brookfield India REIT since its initial public offering (IPO), and Sidley has advised Brookfield India REIT on all four of its public offerings to date.

The offering is one of the most widely distributed institutional placements in the Indian REIT sector — it was more than three times oversubscribed, drawing robust demand from a broad spectrum of marquee domestic and global institutional investors. Proceeds will fund the acquisition of Ecoworld, a 48-acre, 7.7-million-square-foot Grade A office campus on Bengaluru’s Outer Ring Road, one of India’s strongest office micromarkets. With this addition, Brookfield India REIT’s operating portfolio will surpass 32 million square feet and its gross asset value will rise above US$6 billion, positioning it among the largest REIT platforms in India and Asia.

The Sidley team was led by Manoj Bhargava (Singapore) and included Rachna Talati, Edward Lee, Sarangan Rajesh Kumar, Oindree Bandyopadhyay, and Sanketh Hareesh Kumar (all Singapore) with support from Carla G. Teodoro, Nicholas R. Brown, Robert M. Kreitman, Prabhat K. Mehta, Tyler J. Combest, and Morgan Ross (all New York), Leonard Ng and Chloe R. Francis (both London), and Shu Min Ho (Singapore).

Sidley is one of the most experienced international law firms advising on India-related capital markets transactions, having acted on many of the market’s largest and most high-profile offerings in recent years. This year, Sidley’s award-winning India practice advised on the record-breaking US$1.75 billion IPO of Tata Capital — representing India’s largest IPO of 2025, the largest-ever public offering by a nonbanking financial company in India and the fourth-largest IPO in Indian history. In 2024, Sidley advised on the landmark US$2.15 billion follow-on public offering of Vodafone Idea — marking India’s largest-ever follow-on public offering of equity shares. In 2023, Sidley advised on Mankind Pharma’s US$530 million IPO, the largest Indian IPO of 2023. Since 2007, our team has advised on 280 offerings in India, helping raise over US$77 billion. The India Business Law Journal has ranked Sidley a “Top Foreign Law Firm” for India-related work for eight consecutive years.