You are here: Home » Markets » News
Business Standard

Embassy Office Parks REIT IPO gets fully subscribed on Day 3

The Rs 4,750 crore issue, which was opened for subscription on Monday, was subscribed 1.2 times till 2 pm on Wednesday.

SI Reporter  |  New Delhi 

IPO
Illustration: Ajay Mohanty

The initial public offer (IPO) of Embassy Office Parks REIT got fully subscribed on Wednesday.

The Rs 4,750 crore issue, which was opened for subscription on Monday, was subscribed 1.2 times till 2 pm on Wednesday, data showed. Total bids received for the offer stood at 8,49,76,000 against total issue size of 7,12,56,400 units.

The quota for institutional investors got subscribed 1.43 times, and data showed. Other Investors category saw a subscription of 1.05 times at the time of reporting.

The price band of the offer has been fixed at Rs 299 - Rs 300. Minimum lot size for the offer has been set at 800 units and in multiple of 400 units, thereafter.

The company on Friday allotted units worth Rs 1,743 crore to anchor investors. The allotment was made at Rs 300 per unit.

Embassy Office Parks, the joint venture firm of Blackstone and Embassy, had in September last year filed the draft red herring prospectus (DRHP) with the market regulator Sebi to launch REIT, touted as the Asia's largest in terms of portfolio size of 33 million sq ft.

REIT is an investment tool that owns and operates rent-yielding assets. It allows individual investors to make investment in this platform and earn income. Sebi had notified REIT's regulations in 2014, allowing setting up and listing of such trusts, which are very popular in some advanced

(Image source: NSE)


REIT-IPO

First Published: Wed, March 20 2019. 14:40 IST
RECOMMENDED FOR YOU