Sidley Austin Advises Brookfield India REIT on $390 Million QIP
Sidley Austin, a leading international law firm, has once again demonstrated its expertise in advising on complex capital market transactions. The firm recently advised Brookfield India Real Estate Trust (Brookfield India REIT) on its $390 million qualified institutional placement (QIP) of equity units. This substantial offering was underwritten by a consortium of prominent financial institutions, including 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 been instrumental in advising the trust on all four of its public offerings to date. The success of this QIP is a testament to the robust demand from both domestic and global institutional investors, with the offering being more than three times oversubscribed.
The proceeds from this QIP will be used to fund the acquisition of Ecoworld, a 48-acre, 7.7-million-square-foot Grade A office campus located on Bengaluru’s Outer Ring Road. This strategic acquisition is set to significantly bolster Brookfield India REIT’s portfolio. With the addition of Ecoworld, Brookfield India REIT’s operating portfolio will surpass 32 million square feet, and its gross asset value will rise above $6 billion. This positions Brookfield India REIT among the largest REIT platforms in India and Asia.
The Sidley team was led by Manoj Bhargava from the firm’s Singapore office, with support from Rachna Talati, Edward Lee, Sarangan Rajesh Kumar, Oindree Bandyopadhyay, and Sanketh Hareesh Kumar. The team also received valuable assistance 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 Austin is one of the most experienced international law firms in advising on India-related capital markets transactions. The firm has a proven track record of handling some of the largest and most high-profile offerings in the market. This year alone, Sidley advised on the record-breaking $1.75 billion IPO of Tata Capital, which stands as 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 $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 $530 million IPO, the largest Indian IPO of that year.
Since 2007, Sidley’s India practice has advised on 280 offerings in India, helping to raise over $77 billion. The firm’s consistent excellence has earned it the rank of “Top Foreign Law Firm” for India-related work by the India Business Law Journal for eight consecutive years.
Brookfield India REIT, a leading real estate investment trust, focuses on acquiring, owning, and managing high-quality commercial real estate assets in India. The trust’s portfolio includes prime office spaces, retail properties, and integrated townships, making it a significant player in the Indian real estate market. The successful completion of this QIP underscores the trust’s commitment to growth and value creation for its investors.
With a strong pipeline of potential acquisitions and a robust capital structure, Brookfield India REIT is well-positioned to continue its expansion and maintain its leadership in the Indian REIT sector. The trust’s strategic partnerships and the expertise of its legal advisors, such as Sidley Austin, are critical factors in its ongoing success.
