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.
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)|
|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
|Issue Open||Mar 18, 2019 - Mar 20, 2019|
|Issue Type||Book Built Issue REIT|
|Issue Size||158,333,200 Eq Shares of Rs 0 |
(aggregating up to Rs 4,750.00 Cr)
|Face Value||Rs 0 Per Equity Share|
|Issue Price||Rs 299 - Rs 300 Per Equity Share|
|Market Lot||400 Shares|
|Min Order Quantity||800 Shares|
|Listing At||BSE, NSE|
|Bid/Offer Opens On||Mar 18, 2019|
|Bid/Offer Closes On||Mar 20, 2019|
|Finalisation of Basis of Allotment||Mar 28, 2019|
|Initiation of Refunds||Mar 29, 2019|
|Credit of Shares to Demat Acct:|
|IPO Shares Listing Date:||Apr 3, 2019|
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