Embassy Office Parks REIT jumps over 6 pct in debut trade
Embassy Office Parks had in September last year filed the draft red herring prospectus (DRHP) with markets regulator Sebi to launch REIT, touted as Asia's largest in terms of portfolio size of 33 million sq ft.
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The issue of the country's first real estate investment trust (REIT) was subscribed 2.57 times during its bidding process last month, helping the firm raise Rs 4,750 crore. The issue was in a price band of Rs 299-300 per unit. REIT is an investment tool that owns and operates rent-yielding real estate assets. It allows individual investors to make investment in this platform and earn income.
Embassy Office Parks had in September last year filed the draft red herring prospectus (DRHP) with markets regulator Sebi to launch REIT, touted as Asia's largest in terms of portfolio size of 33 million sq ft.
Embassy Office Park is a joint venture of Blackstone and realty firm Embassy Group.
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