Embassy Office Parks REIT IPO

Embassy Office Parks REIT IPOEmbassy 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. 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 Dates18 - 20 March 2019
Price BandINR299 - 300 per unit
Total IPO Size129,556,000 units (INR3873.72 - 3,886.68 crore)
Minimum Order Quantity800 units
Market Lot 400 units
Face Value NA
Non institutional Investor portion25%
Listing OnNSE, 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
Read more about Embassy REIT IPO

Embassy REIT IPO Review: Should you invest in India’s first REIT offer?

Embassy Office Parks REIT's financial performance (in INR crore)
FY2016FY2017FY20189M FY2019
Total revenues1,575.41,645.61,766.31,493.2
Profit after tax93.2177.1256.9285.1
Net margin (%)5.910.814.519.1
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
Email: [email protected]
Website: www.embassyofficeparks.com

Registrar of Embassy Office Parks REIT IPO

Karvy Fintech Private Limited
Karvy Selenium Tower B, Plot 31-32,
Gachibowli, Nanakramguda,
Hyderabad – 500 032, Telangana

Phone: +91 40 6716 2222 
Fax:
 +91 40 2343 1551 
Email:
[email protected]
Website: www.karvyfintech.com

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
CategoryShares offeredSubscription (no. of times)
Day 1Day 2Day 3
Institutional Investors38,866,8000.300.592.14
Non Institutional Investors32,389,6000.070.323.02
Total71,256,4000.190.472.54
Embassy Office Parks REIT IPO Allotment Status

Embassy Office Parks REIT IPO allotment status is now available on Karvy website. Click on this link to 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)

Embassy Office Parks REIT IPO
4.1 (81.11%) 18 vote[s]

9 thoughts on “Embassy Office Parks REIT IPO

  • March 20, 2019 at 6:59 PM
    Permalink

    I cannot see an option to buy on ICICI direct. Any idea why? Is it time window closed already?

    Reply
  • March 16, 2019 at 2:52 PM
    Permalink

    Kotak Mahindra and Radhakishan Damani two of the most astute investors in India are among anchor investors. This is worth buying I say. There will be capital appreciation as well apart from the rental yield which REITs are famous for here in US.

    Reply
    • March 18, 2019 at 10:37 AM
      Permalink

      Everything looks ok. But main concern is PE ratio. This is 89. Compare it with Singapore REIT whicis 17.
      https://sg.finance.yahoo.com/quote/A17U.SI/.
      What makes Indian REIT 5 times more expensive. I was very excited by this offer until I digged deep. I went through offer document. Calculations in ipocentral matched mine. Thanks IPOCentral.

      Reply
  • March 15, 2019 at 2:16 PM
    Permalink

    I don’t see this in IPO section in ICICI Direct. Any idea how i can apply through ICICI or Zerodha?

    Reply
    • March 16, 2019 at 1:51 PM
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      Naveen, it will start appearing on the IPO opening date i.e. 18th.

      Reply
  • March 13, 2019 at 5:10 PM
    Permalink

    You have stated earning per unit at abt 3 rs. But with abt 12 crore units and a pat of abt 250 crores, the earning per unit should be abt 20 rs. Or i am missing something.
    Pls advise

    Reply

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