Brookfield, the asset manager has initiated a sale of a 10% stake, in Data Infrastructure Trust. This sale will be done through an Offer for Sale (OFS) with a price of Rs 155 per unit. The OFS is currently open for trading today. Consists of a base size of Rs 2,824 crore, with a greenshoe option making it a total of Rs 4,033 crore.
Asset manager Brookfield has initiated an Offer for Sale (OFS) to divest a 10 percent stake in Data Infrastructure Trust, a venture they sponsor. The OFS is exclusively available during today’s trading session.
The OFS has a foundational size valued at Rs 2,824 crore, and it includes an additional greenshoe option of Rs 1,209 crore, culminating in a comprehensive OFS size of Rs 4,033 crore.
Data Infrastructure Trust was established by Reliance Industrial Investments & Holdings Ltd. in January 2019 as a privately listed InvIT. In August 2020, BIF IV Jarvis India Pte. Ltd., supported by Brookfield, gained the sponsorship of the InvIT by acquiring 89.79 percent of the units, following approval from the Department of Telecom.
Presently, Brookfield possesses 88 percent of the units within the InvIT, while the remaining shares are under the ownership of the Government of Singapore, British Columbia Investments, and other assorted investors.
The bidding quantum for the OFS stands at 2 lakh units, equivalent to Rs 3.1 crore, and can be scaled up in multiples of this amount. A privately listed InvIT refers to an InvIT that has issued units by Regulation 14 (2) of the InvIT regulations, encompassing the framework outlined in Chapter VIA of the InvIT regulations.
