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Embassy Office Parks is a book built issue of Rs 4,750.00 crores.
Embassy Office Parks bidding started from March 18, 2019 and ended on March 20, 2019. The allotment for Embassy Office Parks was finalized on Thursday, March 28, 2019. The shares got listed on BSE, NSE on April 1, 2019.
Embassy Office Parks price band is set at ₹299 to ₹300 per share. The minimum lot size for an application is 400. The minimum amount of investment required by retail investors is ₹1,20,000. The minimum lot size investment for sNII is undefined lots (undefined shares), amounting to undefined, and for bNII, it is undefined lots (undefined shares), amounting to undefined.
Axis Capital Limited, Credit Suisse Securities (India) Private Limited, Deutsche Equities India Private Limited, Goldman Sachs (India) Securities Private Limited, Hsbc Securities & Capital Markets Pvt Ltd, Iifl Securities Ltd, Jm Financial Limited, Nomura Financial Advisory And Securities (India) Pvt Ltd are the book running lead managers of the Embassy Office Parks, while Kfin Technologies Limited is the registrar for the issue.
Refer to Embassy Office Parks RHP for detailed information.
| IPO Date | March 18, 2019 to March 20, 2019 |
| Listing Date | April 1, 2019 |
| Face Value | ₹300 per share |
| Price Band | ₹299 to ₹300 per share |
| Lot Size | 400 Shares |
| Total Issue Size | 15,83,33,200 shares (aggregating up to ₹4,750.00 Cr) |
| Issue Type | Book Built Issue 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 offers 71,256,400 shares. 38,866,800 (54.54%) to QIB, 32,389,600 (45.46%) to NII.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | - |
| QIB Shares Offered | 38,866,800 (54.54%) |
| NII (HNI) Shares Offered | 32,389,600 (45.46%) |
| Total Shares Offered | 71,256,400 (100%) |
Embassy Office Parks opens on March 18, 2019, and closes on March 20, 2019.
| IPO Open Date | Monday, March 18, 2019 |
| IPO Close Date | Wednesday, March 20, 2019 |
| Basis of Allotment | Thursday, March 28, 2019 |
| Initiation of Refunds | Friday, March 29, 2019 |
| Listing Date | Monday, April 1, 2019 |
| Cut-off time for UPI mandate confirmation | 5 PM on March 20, 2019 |
Investors can bid for a minimum of 400 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| All Investors | 1 | 400 | ₹1,20,000 |
| Lot Size Calculator | |||
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 Net Proceeds from the Issue will be utilised towards the following objects:
1. Partial or full repayment or pre-payment of bank/ financial institution debt of certain Asset SPVs and by the Investment Entity;
2. Payment of consideration for acquisition of the Embassy One Assets currently held by EODPL; and
3. General purposes
[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 |
| 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 |
Embassy Office Parks
Royal Oaks, Embassy Golf Links Business Park,
Off Intermediate Ring Road,
Bengaluru 560 071
Phone: +91803 322 0000
Email: compliance@embassyofficeparks.com
Website: http://www.embassyofficeparks.com
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: einward.ris@karvy.com
Website: https://kosmic.kfintech.com/ipostatus/
Lead Manager Reports
Embassy Office Parks is a main-board REIT of 158333200 equity shares of the face value of ₹300 aggregating up to ₹4,750.00 Crores. The issue is priced at ₹299 to ₹300 per share. The minimum order quantity is 400.
The REIT opens on March 18, 2019, and closes on March 20, 2019.
Kfin Technologies Limited 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 using UPI as a payment gateway. Zerodha customers can apply in Embassy Office Parks by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Embassy Office Parks through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Embassy Office Parks opens on March 18, 2019 and closes on March 20, 2019.
Embassy Office Parks lot size is 400, and the minimum amount required is ₹1,20,000.
You can apply in Embassy Office Parks 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, ICICI Bank, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Embassy Office Parks 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 allotment status.
The Embassy Office Parks listing date is on Monday, April 1, 2019.
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