By Rohit Sharma
Embassy Office Parks REIT has raised Rs 1,743 crore from anchor investors. It has allotted 5,81,05,600 units at Rs 300 per unit aggregating to Rs 1,743.17 crore.
Embassy Office Parks REIT, a joint venture (JV) between Blackstone Group and Bengaluru-based developer, is set to raise Rs 4,750 crore in India’s first REIT listing for funding the Embassy One assets project and repayment of existing debt.
The company in a statement said, the initial public offering (IPO) of Embassy REIT, will open on March 18, 2019, at a price band of Rs 299 to Rs 300. Embassy REIT is issuing Units aggregating up to Rs 47,500 million and the issue will close on March 20, 2019.
Axis Trustee Services Limited is the Trustee to the Issue while Embassy Office Parks Management Services Private Limited is the Manager to the Issue. Embassy Property Developments Private Limited and BRE/ Mauritius Investments are the Sponsors to the issue, the company added.
The Global Coordinators and Book Running Lead Managers to the offer are Morgan Stanley India Company Private Limited, Kotak Mahindra Capital Company Limited, J.P. Morgan India Private Limited and DSP Merrill Lynch Limited.