India’s first real estate investment trustNSE 1.39 % (REIT), Embassy Office Park REIT, will list on Monday April 1 on bourses one week ahead of its mandatory listing date. The Embassy Office Parks REIT, a joint venture between the Bangalore-based property developer and private equity firm Blackstone successfully raised Rs 4,750 crore from the primary market last week. Embassy REIT units were allotted at Rs 300 per unit.
REITs are required to be listed on recognised stock exchange within ..
The offer which was ended on March 20 subscribed 2.57 times at the end of the three-day bidding process. Capital Group invested 876 crore ahead of the IPO while 18 anchor investors pumped in nearly Rs 1,743 crore of which 85 per cent were the long-only Investors like Fidelity, TT International, CI Funds and Damani Trust, among others while 4.4 per cent were hedge funds. Remaining 10.4 per cent of the subscribers were the domestic Investors.
“We believe the yield has upside potential on account of rental escalation and expansion in asset portfolio following a comfortable leverage position” said Deepak Purswani, analyst, ICICI Securities.
REITs are required to be listed on recognised stock exchange within ..
The offer which was ended on March 20 subscribed 2.57 times at the end of the three-day bidding process. Capital Group invested 876 crore ahead of the IPO while 18 anchor investors pumped in nearly Rs 1,743 crore of which 85 per cent were the long-only Investors like Fidelity, TT International, CI Funds and Damani Trust, among others while 4.4 per cent were hedge funds. Remaining 10.4 per cent of the subscribers were the domestic Investors.
“We believe the yield has upside potential on account of rental escalation and expansion in asset portfolio following a comfortable leverage position” said Deepak Purswani, analyst, ICICI Securities.
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