Embassy Office Parks REIT IPO description – Embassy Office Parks REIT is the owner of a high quality office portfolio in India that comprises seven best-in-class office parks and four prime city-center office buildings totaling 32.7 msf as of 31 December 2018. These assets also include two completed and two under-construction hotels totaling 1,096 keys, food courts, employee transportation and childcare facilities.
These properties are spread in the best performing submarkets of India’s key office markets of Bengaluru, Pune, Mumbai and Noida.
Ideas For Profit - Embassy Office Parks REIT
Approximately 80.9% of the Gross Rentals from its 160+ marquee tenant base is contracted with leading multinational corporations and approximately 43.4% is contracted with Fortune 500 companies such as JP Morgan, IBM and Microsoft, as of 31 December 2018.
Sponsors of Embassy Office Parks REIT – Embassy Sponsor, Blackstone Sponsor
Embassy Office Parks REIT IPO details
|Subscription Dates||18 – 20 March 2019|
|Price Band||INR299 – 300 per unit|
|Total IPO Size||129,556,000 units (INR3873.72 – 3,886.68 crore)|
|Minimum Order Quantity||800 units|
|Market Lot||400 units|
|Non institutional Investor portion||25%|
|Listing On||NSE, BSE|
Use of Proceeds
- Partial or full repayment or pre-payment of bank/ financial institution debt of certain Asset SPVs and the Investment Entity – INR3,710 crore
- Payment of consideration for acquisition of the Embassy One Assets currently held by EODPL – INR460 crore
- General Purposes
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Embassy REIT IPO Review: Should you invest in India’s first REIT offer?
|Embassy Office Parks REIT’s financial performance (in INR crore)|
|Profit after tax||93.2||177.1||256.9||285.1|
|Net margin (%)||5.9||10.8||14.5||19.1|
Embassy Office Parks REIT Contact Details
Embassy Office Parks REIT
Royal Oaks, Embassy Golf Links Business Park
Off Intermediate Ring Road
Bengaluru 560 071
Phone: +91 80 3322 0000
Registrar of Embassy Office Parks REIT IPO
Karvy Fintech Private Limited
Karvy Selenium Tower B, Plot 31-32,
Hyderabad – 500 032, Telangana
Phone: +91 40 6716 2222
Fax: +91 40 2343 1551
Valuation of Embassy Office Parks REIT (As of 31 Dec 2018)
Earnings Per Unit (EPU): INR3.33
Price/Earnings (PE ratio): 89.79 – 90.09
Net Asset Value (NAV): INR376 per share
Embassy Office Parks REIT IPO Subscription Details
|Category||Shares offered||Subscription (no.
|Day 1||Day 2||Day 3|
|Non Institutional Investors||32,389,600||0.07||0.32||3.02|
Embassy Office Parks REIT IPO Allotment Status
Embassy Office Parks REIT IPO allotment status is now available on Karvy website.
Click on this linkto get allotment status.
Listing Performance of Embassy Office Parks REIT
IPO Opening Date: 18 March 2019
IPO Closing Date: 20 March 2019
Finalisation of Basis of Allotment: 28 March 2019
Initiation of refunds: 29 March 2019
Listing Date: 1 April 2019
Listing Price on NSE: INR308 per unit (up 2.67% from IPO price)
Closing Price on NSE: INR314.67 per unit (up 4.89% from IPO price)