Sidley Advises on Brookfield India REIT's US$390 Million QIP
Sidley, a leading international law firm, has advised Brookfield India Real Estate Trust (Brookfield India REIT) on its US$390 million qualified institutional placement (QIP) of equity units. This QIP was underwritten by prominent institutions such as 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 played a crucial role in advising 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, attracting robust demand from a broad spectrum of marquee domestic and global institutional investors. The proceeds from this QIP will fund the acquisition of Ecoworld, a 48-acre, 7.7-million-square-foot Grade A office campus on Bengaluru’s Outer Ring Road. This strategic acquisition positions Ecoworld in 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. This significant expansion places Brookfield India REIT among the largest REIT platforms in India and Asia.
The Sidley team was led by Manoj Bhargava, based in Singapore, and included Rachna Talati, Edward Lee, Sarangan Rajesh Kumar, Oindree Bandyopadhyay, and Sanketh Hareesh Kumar, all from Singapore. The team also received support from Carla G. Teodoro, Nicholas R. Brown, Robert M. Kreitman, Prabhat K. Mehta, Tyler J. Combest, and Morgan Ross in New York, Leonard Ng and Chloe R. Francis in London, and Shu Min Ho in Singapore.
Sidley is renowned for its extensive experience in advising on India-related capital markets transactions. The firm has acted on many of the market’s largest and most high-profile offerings in recent years. In 2025, 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, the firm advised on Mankind Pharma’s US$530 million IPO, the largest Indian IPO of 2023. Since 2007, Sidley’s team has advised on 280 offerings in India, helping raise over US$77 billion. The India Business Law Journal has consistently ranked Sidley a “Top Foreign Law Firm” for India-related work for eight consecutive years.
