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Embassy Office Parks ReIT REIT is a book build issue .
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 ₹300.00 per share . The lot size for an application is 400. The minimum amount of investment required by an retail is ₹1,19,600 (400 shares).
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 Date | March 18, 2019 to March 20, 2019 |
| Listing Date | April 1, 2019 |
| Face Value | ₹300 per share |
| Issue Price Band | ₹299 to ₹300 per share |
| Issue Price Final | ₹300 per share |
| Lot Size | 400 Shares |
| Issue Type | Bookbuilding REIT |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 61,33,32,143 shares |
| Share Holding Post Issue | 77,16,65,343 shares |
Embassy Office Parks ReIT REIT opens on March 18, 2019, and closes on March 20, 2019.
| IPO Open Date | Mon, Mar 18, 2019 |
| IPO Close Date | Wed, Mar 20, 2019 |
| Tentative Allotment | Thu, Mar 28, 2019 |
| Initiation of Refunds | Fri, Mar 29, 2019 |
| Tentative Listing Date | Mon, Apr 1, 2019 |
| Cut-off time for UPI mandate confirmation | 5 PM on Wed, Mar 20, 2019 |
Investors can bid for a minimum of 400 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| 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
| Particulars | For the year/period ended (in Rs. millions) | ||||
|---|---|---|---|---|---|
| 31-Dec-18 | 31-Mar-18 | 31-Mar-17 | 31-Mar-16 | ||
| Total Assets | 1,37,790.86 | 1,35,155.22 | 1,11,968.97 | 1,05,490.00 | |
| Total Revenue | 13,759.83 | 16,118.00 | 14,849.20 | 13,970.16 | |
| Profit After Tax | 2,851.14 | 2,569.08 | 1,770.57 | 931.83 | |
The Company Embassy Office Parks ReIT REIT proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|---|
| 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 |
[Dilip Davda] EOP REIT invests in ready to use or leased out property acquisitions thus reducing gestation periods. This instrument is most popular in global markets. EOP REIT is the first mover in this segment with its maiden offer. It is a safe bet for long term investment as it is offering a regular dividend and the appreciation in the properties at the end of the scheme. Read detail review...
| Listing Date | April 1, 2019 |
| BSE Script Code | 542602 |
| NSE Symbol | EMBASSY |
| ISIN | INE041025011 |
| Final Issue Price | ₹300 per share |
Embassy Office Parks ReIT
Royal Oaks, Embassy Golf Links Business Park,
Off Intermediate Ring Road,
Bengaluru 560 071
Bengaluru, Karnataka
Phone: +91803 322 0000
Email: compliance@embassyofficeparks.com
Website: http://www.embassyofficeparks.com
Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: einward.ris@karvy.com
Website: https://ipostatus.kfintech.com/
Lead Manager Reports
Embassy Office Parks ReIT REIT is a main-board REIT of 0 equity shares of the face value of ₹300 aggregating up to ₹[.] Crores. The issue is priced at ₹300 per share. The minimum order quantity is 400.
The REIT opens on March 18, 2019, and closes on March 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 March 18, 2019 and closes on March 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 Monday, April 1, 2019.
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