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Embassy REIT allots equity shares worth Rs 1,743 crore to anchor investors

Press Trust of India  |  New Delhi 

IPO-bound Embassy REIT has allotted 5.81 crore shares in the upper band of 300 per unit, aggregating to 1,743 crore, as part of the anchor investor allotment.

The REIT (investment trust) of Embassy Office Parks, the joint venture firm of Blackstone and Embassy, is India's first such investment trust.

Among the 59 anchor investors, has been allotted 42.8 lakh shares, - 44.16 lakh shares, 29.05 lakh shares, and 23.2 lakh shares.

The initial issue of REIT will open on March 18 with a price band of 299-300 per unit and will close on March 20. The total issue size is 12,95,56,000 units.

The IPO is expected to raise up to Rs 4,750 crore, while it has already received Rs 876-crore commitment from strategic investors.

Embassy Office Parks, a leading player in commercial real estate, has put 33 million sq ft of office and hospitality assets under its REIT, comprising of seven business parks and four city-centric buildings spread across Mumbai, Bengaluru, and

REIT is an that owns and operates rent-yielding assets. It allows individual investors to make investment in this platform and earn income.

The Sebi had notified REIT's regulations in 2014, allowing setting up and listing of such trusts, which are popular in some advanced markets.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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