Embassy Office Parks’ public issue, the country’s first real estate investment trust (REIT) offering has been subscribed 47 percent on the second day of its bidding on Tuesday.
The REIT issue received bids for 3,31,90,000 units against the total size of 7,12,56,400 units, according to the NSE data.
Institutional investors subscribed 59 times and other investors subscribed 32 times of the total bidding size.
The issue is in a price band of Rs 299-300 per unit and will close on March 20. The total size of the bid lot is 400 units.
The offer is expected to raise up to Rs 4,750 crore. The category reserved for institutional investors was subscribed 30 percent and other investors 7 percent according to the exchange data.
REIT is an investment tool that owns and operates rent-yielding real estate assets. It allows individual investors to make an investment in this platform and earn income.
Embassy Office Parks is a joint venture of Blackstone and Embassy.