Bookbuilding REIT | ₹4,750 Cr | Listed at BSE, NSE | Mon, Mar 18, 2019 - Wed, Mar 20, 2019
Embassy Office Parks ReIT REIT is a book build issue of ₹4,750.00 crores. The issue is entirely a fresh issue of 15.83 crore shares of ₹4,750.00 crore.
Embassy Office Parks ReIT REIT bidding started from Mar 18, 2019 and ended on Mar 20, 2019. The allotment for Embassy Office Parks ReIT REIT was finalized on Mar 28, 2019. The shares got listed on BSE, NSE on Apr 1, 2019.
Embassy Office Parks ReIT REIT price band is set at ₹300 per share. The lot size for an application is 400. The minimum amount of investment required by an retail is ₹1,20,000 (400 shares) (based on upper price).
Axis Capital Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Refer to Embassy Office Parks ReIT REIT RHP for detailed Information.
IPO Open
Mon, Mar 18, 2019
IPO Close
Wed, Mar 20, 2019
Final Issue Price
₹300.00 per share
Market Cap (Pre-IPO)
₹23,149.96 Cr
| IPO Date | 18 to 20 Mar, 2019 |
| Listed on | Mon, Apr 1, 2019 |
| Price Band | ₹299.00 to ₹300.00 |
| Final Issue Price | ₹300.00 per share |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding REIT |
| Listing At | BSE, NSE |
| Total Issue Size | 15,83,33,200 shares (agg. up to ₹4,750 Cr) |
| Fresh Issue | 15,83,33,200 shares (agg. up to ₹4,750 Cr) |
| Share Holding Pre Issue | 61,33,32,143 shares |
| Share Holding Post Issue | 77,16,65,343 shares |
| BSE Script Code / NSE Symbol | 542602 / EMBASSY |
| ISIN | INE041025011 |
Embassy Office Parks ReIT REIT comprises a total issue size of 15,83,33,200 shares. Out of which, 9,68,43,200 (75.00%) are allocated to QIB, 3,22,81,200 (25.00%) allocated to NII .
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | 9,68,43,200 |
| − Anchor Investor Shares Offered | 5,81,05,600 |
| − QIB (Ex. Anchor) Shares Offered | 3,87,37,600 |
| NII (HNI) Shares Offered | 3,22,81,200 |
| Strategic Investor Shares Offered | 2,92,08,800 |
| Total Shares Offered | 15,83,33,200 |
Investors can bid for a minimum of 400 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| All Investors | 1 | 400 | ₹1,20,000 |
Incorporated in 2012, Bengaluru based Embassy Office Parks Private Limited is in the business of real estate including renting, selling, buying and operating of leased or self-owned real estate properties. It is a joint venture of the Blackstone Group L.P, a New York City based largest alternative investment firm in the world.
Embassy Office Parks is coming up with a Real Estate Investment Trust (REIT) public issue to raise Rs 5000 Cr. The Embassy REIT is a SEBI registered REIT (as on August 3, 2017) as a real estate investment trust. The investment objective of the Embassy REIT is to own, operate and invest in rent or income generating office real estate and related assets in India in accordance with the REIT Regulations.
Real Estate Investment Trust (REIT) Explained
Under the REIT Regulations Embassy REIT has to invest a minimum 80% of the value of its assets in completed and rent and/ or income generating properties.
REIT Regulations also impose restrictions on certain investments including investments in vacant land, agricultural land or mortgages and assets located outside India.
The Embassy REIT has been given a long-term rating of [ICRA] AAA by ICRA. The outlook on the assigned rating is 'Stable'.
The competitive strengths of the company are:
• High-quality infrastructure
• Located at leading services hub in India
• Strong relationship base with multinational tenants
• Strategic set up at the top performing markets
• The good quality management system
• Well-known sponsors with local and global expertise
• Top class office properties
| Period Ended |
|---|
| Amount in ₹ Crore |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Partial or full repayment or pre-payment of bank/ financial institution debt of certain Asset SPVs and the Investment Entity | 3,710.00 |
| 2 | Payment of consideration for acquisition of the Embassy One Assets which were held by EODPL | 468.19 |
| 3 | General Corporate Purpose | 391.80 |
The Embassy Office Parks is subscribed 2.57 times on March 20, 2019 5:30:00 PM (Day 3). The public issue subscribed [.] times in the retail category, 2.15 times in the QIB category, and 3.09 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 2.15 | 3,88,66,800 | 8,33,75,200 |
| NII | 3.09 | 3,23,89,600 | 10,01,00,800 |
| Total | 2.57 | 7,12,56,400 | 18,34,76,000 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fee and commission to advisors to this Issue | 106.90 |
| 2 | Fee payable to others | 73.10 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹300.00 | ₹300.00 |
| Open | ₹300.00 | ₹308.00 |
| Low | ₹300.00 | ₹308.00 |
| High | ₹324.50 | ₹324.80 |
| Last Trade | ₹314.10 | ₹314.67 |
Lead Manager Reports
Embassy Office Parks ReIT REIT is a main-board REIT of 15,83,33,200 equity shares of the face value of ₹300 aggregating up to ₹4,750 Crores. The issue is priced at ₹300.00 per share. The minimum order quantity is 400.
The REIT opens on Mon, Mar 18, 2019, and closes on Wed, Mar 20, 2019.
Kfin Technologies Ltd. is the registrar for the REIT. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Embassy Office Parks ReIT REIT using UPI as a payment gateway. Zerodha customers can apply in Embassy Office Parks ReIT REIT by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Embassy Office Parks ReIT REIT through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Embassy Office Parks ReIT REIT opens on Mon, Mar 18, 2019 and closes on Wed, Mar 20, 2019.
Embassy Office Parks ReIT REIT lot size is 400, and the minimum amount required for application is ₹1,20,000.
You can apply in Embassy Office Parks ReIT REIT online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Embassy Office Parks ReIT REIT will be done on Thursday, March 28, 2019, and the allotted shares will be credited to your demat account by . Check the Embassy Office Parks ReIT REIT allotment status.
The Embassy Office Parks ReIT REIT listing date is on Mon, Apr 1, 2019.
