trending Market Intelligence /marketintelligence/en/news-insights/trending/gxp8zLZSMt_qkkJzBU1hlg2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In this list

Blackstone-backed Indian REIT secures 17.43B rupees ahead of IPO

Gauging Supply Chain Risk In Volatile Times

The Commercial Real Estate (CRE) Sector Feels the Impact of the Coronavirus

Street Talk Episode 56 - Latest bank MOE shows even the strong need scale to thrive

South State CenterState MOE Shows Even The Strong Need Scale To Thrive


Blackstone-backed Indian REIT secures 17.43B rupees ahead of IPO

Embassy Office Parks REIT secured 17.43 billion Indian rupees in investments ahead of the March 18 start of its IPO on the National Stock Exchange of India Ltd. and Bombay Stock Exchange Ltd., The Economic Times of India reported.

Anchor investors including Kotak Mahindra Life Insurance Co. Ltd. and trusts related to Radhakishan Damani and Gopikishan Damani injected the amount to the real estate investment trust backed by Blackstone Group LP and Embassy Group, according to the publication.

Embassy Office is aiming to raise a total of 47.5 billion rupees from its IPO that is slated to run until March 20. The company on-track to become the first listed REIT in India intends to offer 129,556,000 new units at an indicative price of between 299.00 rupees per unit and 300.00 rupees per unit.

Upon its listing, the office-focused trust will hold four office buildings and seven office parks with four hotels offering 1,096 rooms. Properties across the cities of Bangalore, Pune, Mumbai and Noida comprise the initial portfolio that also features 32.6 million square feet of space as of March 31, 2018. According to the March 16 report, the real estate assets are leased to tenants including JPMorgan Chase & Co., Google and Microsoft Corp.

Morgan Stanley India Co. Pvt. Ltd., Kotak Mahindra Capital Co. Ltd., J.P. Morgan India Pvt. Ltd. and DSP Merrill Lynch Ltd. are the global coordinators of the IPO. They also function as book-running lead managers together with Axis Capital Ltd., Credit Suisse Securities (India) Pvt. Ltd., Deutsche Equities India Pvt. Ltd., Goldman Sachs (India) Securities Pvt. Ltd., HSBC Securities and Capital Markets (India) Pte. Ltd., IIFL Holdings Ltd., JM Financial Ltd., and Nomura Financial Advisory and Securities (India) Pvt. Ltd.

As of March 15, US$1 was equivalent to 68.99 Indian rupees.