Ace investor and Avenue Supermarts' owner Radhakishan Damani and his brother are among Indian investors, who invested Rs 160 crore against 53.36 lakh shares in Blackstone-backed company, through their five trusts
By March 15, Embassy Office Parks REIT garnered Rs 1,743 crore from anchor investors that mostly include foreign investors along with a few Indian ones.
Ace investor and Avenue Supermarts' owner Radhakishan Damani and his brother are among Indian investors, who invested Rs 160 crore against 53.36 lakh shares in Blackstone-backed company, through their five trusts.
Another Indian investor is Kotak Mahindra Life Insurance Company that bought 6.96 lakh shares worth Rs 20.88 crore in the company.
All others are foreign investors including big names like Fidelity Funds, Morgan Stanley, TT Emerging Markets Fund, DB International, National Westminster Bank, Citigroup, Wells Fargo, Japan Trustee Services Bank, etc.
"Under anchor investors (AIs) portion in the public issue of Embassy Office Parks REIT, 5,81,05,600 units have been subscribed at Rs 300 per unit," Embassy REIT said in its filing to the BSE.
Embassy Office Parks, which is a joint venture between the Bengaluru-based property developer and private equity firm Blackstone, has placed 33 million square feet of office and hospitality assets under its proposed REIT, which comprises seven business parks and four city-centric buildings spread across Mumbai, Bengaluru, Pune and Noida.
The initial public offering (IPO) of Embassy Office Parks REIT, the first ever by a Real Estate Investment Trust in India (REIT), will open on March 18 in the price band Rs 299-300, the company said in a statement.
Embassy REIT is issuing units aggregating up to Rs 4,750 crore and will constitute at least 10 percent of the issued and paid-up units on a post-issue basis.
The issue, made through the book-building process, will close on March 20, the statement said. The units are proposed to be listed on the National Stock Exchange and BSE. The minimum bid size is 800 units and in multiples of 400 units thereafter.
Proceeds from the same will be used for: i) Partial or full repayment of bank/ financial institution debt, ii) Payment for acquisition of the Embassy One Assets currently held by Embassy One Developers Pvt, and iii) For general purposes.The book running lead managers to the issue are: Axis Capital, Credit Suisse Securities (India), Deutsche Equities India, Goldman Sachs (India) Securities, HSBC Securities and Capital Markets (India), IIFL Holdings, JM Financial and Nomura Financial Advisory & Securities (India).