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Embassy Office Parks Reit allots units worth Rs 1,743 cr anchor investors

Embassy Reit is looking to raise Rs 4,750 crore through the IPO

BS Web Team 


India’s first real estate investment trust (Reit) on Friday allotted units worth Rs 1,743 crore to The move comes ahead of its (IPO) which opens on Monday and closes on Wednesday. The allotment was made at Rs 300 per unit.

The for the issue is Rs 299 to Rs 300 per share. is looking to raise Rs 4,750 crore through the Both foreign as well as domestic institutional investors applied in the anchor category. Some of the investors include Fidelity, Schroder, Morgan Stanley, Wells Fargo and Kotak Mahindra Life.

According to a note by Motilal Oswal, is priced at a 20 per cent discount to its net asset value (NAV) and offers a yield of 8.25 per cent per annum. Embassy Reit’s assets include office parks, city-centric offices and hotels. The company is primarily focused in Bengaluru but has assets in Mumbai, Pune and Noida.

Reit is an investment vehicle that owns rent-yielding real estate. The income generated is distributed to unitholders.

First Published: Fri, March 15 2019. 21:19 IST