Embassy Office Parks Reit had tapped the capital markets with what was India’s first REIT. REIT is a real estate investment trust and in its earlier avatars we had two Invites from the infrastructure space.
Embassy Office Parks REIT also introduced a new concept of strategic investor which have a lock-in of six months. This category is over and above the anchor investor who have a lock-in of one month or 30 days.
The issue size was Rs 4,750 crs and the price band was Rs 299-300. The allocation made to strategic investors was for 2,92,08,800 units at Rs 300 per unit.
Anchor investors were allotted 5,81,05,600 units at Rs 300 per unit. The anchor book consisted of 59 entities. 55% of the issue size was allocated to strategic investors and anchor investors. Amongst the anchor investors were five trusts of the promoter of Avenue Super Marts, the company which runs D-Mart who was allotted 9% of the anchor book.
The institutional and non-institutional book was subscribed 2.15 times and 3.10 times respectively, making the overall book 2.58 times. There was a total of 8,012 forms received.
Details of the subscription are given below: –
Embassy Office Parks Subscription
| Bucket Size | Shares Applied for | Times Oversubscribed | |
| QIB | 38737600 | 83375200 | 2.15 |
| HNI | 32281200 | 100100800 | 3.10 |
| Total | 71018800 | 183476000 | 2.58 |
