Embassy Office Parks Reit makes stock market debut, gains nearly 5%

The units of Embassy Office Parks Real Estate Investment Trust (Reit) gained nearly 5 per cent during their stock market debut on Monday. Experts said the positive listing would help in opening of a new fund-raising aven­ue for the cash-str­apped real estate se­c­tor in the country.

Last month, Blackstone-bac­­ked Embassy Office came out with India’s first Reit initial public offering (IPO) to raise Rs 4,750 crore. Investors were all­otted units at Rs 300 apiece in the IPO.

Embassy Reit units closed at Rs 314, up 4.7 per cent over the issue price. The REIT units touched a high of Rs 325 and