Brookfield India Real Estate Trust (NSEI:BIRET) plans to raise up to INR 35,000 million through issues of units to institutional investors or preferential allotment of units, mainly to fund its proposed acquisition of two commercial properties. Last month, Brookfield India Real Estate Trust (BIRET) and Singapore's sovereign wealth fund GIC had announced an equal partnership to acquire two commercial properties in India for INR 112,250 million. The company had proposed to fund the acquisitions through an institutional placement of up to INR 35,000 million and said it might also consider other forms of fund raising, including preferential allotment of units.

According to sources, Brookfield India Real Estate Trust has started the process to raise funds. When contacted, BIRET spokesperson said that the board of the manager of the REIT has approved an enabling resolution to raise up to INR 35,000 million through institutional placement, which is subject to unitholder approval. Of this, INR 34,000 million is proposed to be raised for asset acquisitions".

The spokesperson did not comment on start of the process of fund raising.