Bengaluru-based Embassy Office Parks Private Limited is in the business of real estate including renting, selling, buying and operating of leased or self-owned real estate properties. It is a joint venture of the Blackstone Group L.P, a New York City-based largest alternative investment firm in the world.
| Bidding Dates |
|---|
| 18 Mar 2019 - 20 Mar 2019 |
| Subscription |
|---|
| 2.57x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,20,000 | 1 | - | 400 | 158.3 M | ₹299 - ₹300 | - | ₹47341.6 M - ₹47500.0 M | RHP DOC |
Embassy Office Parks REIT IPO SUBSCRIPTION STATUS
20 Mar '19Embassy Office Parks REIT IPO overall subscription rate was 2.57 times the total available shares
Embassy Office Parks REIT IPO non-institutional investor subscription rate was 3.09 times in the non-institutional investor category
Embassy Office Parks REIT IPO Qualified Institutional Bidder subscription rate was 2.15 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | - | 25% | 75% |
19 Mar 2019 (Day 2) | - | 0.32x | 0.59x |
20 Mar 2019 (Day 3) | - | 3.09x | 2.15x |
18 Mar 2019 (Day 1) | - | 0.07x | 0.3x |
Embassy Office Parks REIT FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) |
| 9MFY19 | 2,851.1 | 13,759.8 | 11,345.0 | 4,246.9 |
| 9MFY18 | 2,121.6 | 11,829.5 | 9,419.0 | 1,878.0 |
| FY18 | 2,569.1 | 16,118.0 | 12,507.6 | -9,717.3 |
| FY17 | 1,770.6 | 14,849.2 | 9,866.9 | 1,474.8 |
| FY16 | 931.8 | 13,970.2 | 9,251.9 | -5,108.1 |
Embassy Office Parks REIT IPO SUBSCRIPTION STATUS DETAILS
Embassy Office Parks REIT had 158.3 M shares on offer
Embassy Office Parks REIT IPO offer price was in the range ₹299 - ₹300
Embassy Office Parks REIT IPO minimum Investment was ₹120000
Embassy Office Parks REIT IPO issue size was ₹ 47341.6 M - ₹ 47500.0 M
Embassy Office Parks REIT had a minimum lot size of 400 Shares per application
Embassy Office Parks REIT NUMBER OF SHARES ON OFFER
Embassy Office Parks REIT IPO IMPORTANT DATES
| Issue Open Date | 18 Mar 2019 |
| Issue close Date | 20 Mar 2019 |
| Allotment Date | 28 Mar 2019 |
| Refund Date | 29 Mar 2019 |
| Demat Account Credit Date | - |
| Listing Date | 01 Apr 2019 |
| Listing on Exchange(s) | NSE and BSE |
| Embassy Office Parks REIT Allotment Status | Exchange |
Embassy Office Parks REIT IPO subscription opened on 18 Mar 2019, and closed on 20 Mar 2019
IPO allotment for Embassy Office Parks REIT was finalized on Thursday, 28 Mar 2019
IPO listing for Embassy Office Parks REIT was on NSE and BSE on Monday, 01 Apr 2019
Embassy Office Parks REIT IPO LISTING GAINS
| Issue Price (adjusted) | 300.0 |
| Listing Open Price | 300.0 |
| Listing Close Price | 314.1 |
| Listing Gain% | 0.0% |
| Current Gain% | 50.9% |
Embassy Office Parks REIT Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Embassy Office Parks REIT | 452.6 | 1.6 | 0.7 | 4675.8 | 11.8 | 338.5 | -79.2 | ||||||
| Knowledge Realty Trust | 116 | 51430.2 | 10.5 | 0.9 | 4146.9 | 15.6 | 222.5 | -34.5 | |||||
| Altius Telecom Infrastructure Trust | 171.5 | 44641.4 | 5.6 | 1.1 | 19623.7 | 47 | 839.9 | -25 | |||||
| Bagmane Prime Office REIT | 107.7 | 36624.8 | 56.5 | 12.4 | 2390.9 | 6.9 | 896.5 | 10.8 | |||||
| National Highways Infra Trust | 168 | 32539.1 | 2.9 | 1.3 | 4322.2 | 78.9 | 685.5 | 110.9 | |||||
| Mindspace Business Parks REIT | 495.3 | 30171 | 39.9 | 0.8 | 8.8 | 4.3 | 2.1 | 3293.1 | 23.1 | 651.9 | 36.9 | 12.4 | 50 |
Embassy Office Parks REIT IPO Reports
Embassy Office Parks REIT INFORMATION ON IPO ISSUE
About Embassy Office Parks REIT
Bengaluru-based Embassy Office Parks Private Limited is in the business of real estate including renting, selling, buying and operating of leased or self-owned real estate properties. It is a joint venture of the Blackstone Group L.P, a New York City-based largest alternative investment firm in the world.
Object of the Issue
- Partial or full repayment or pre-payment of bank/ financial institution debt of certain asset SPVs and by the investment entity
- Payment of consideration for the acquisition of the Embassy One Assets currently held by EODPL
- General purposes
Embassy Office Parks REIT Book Running Lead Manager
Credit Suisse Securities (India) Private Limited
list.embassyreit@credit-suisse.com
Goldman Sachs (India) Securities Private Limited
gs-embassyofficeparks-ipo@gs.com
Axis Capital Limited
embassy.reit@axiscap.in
Deutsche Equities India Private Limited
embassyreit.ipo@db.com
HSBC Securities and Capital Markets (India) Private Limited
embassyreit@hsbc.co.in
IIFL Holdings Limited
embassy.reit@iiflcap.com
JM Financial Limited
embassy.reit@jmfl.com
Nomura Financial Advisory and Securities (India) Private Limited
embassyreit@nomura.com
Embassy Office Parks REIT Registrar to the Offer
Karvy Fintech Private Limited
einward.ris@karvy.com
Embassy Office Parks REIT Strengths
Best-in-class office properties with high quality infrastructure
The properties are among the highest quality assets in India
High quality assets with significant scale
The assets are developed and managed to international standards making them among the preferred options for both domestic and multinational corporations in their respective submarkets
Embassy Office Parks REIT Risks
Dependent on the Indian economy and financial stability
The business is dependent on the Indian economy and financial stability in Indian markets, and any slowdown in the Indian economy or in Indian financial markets could have a material adverse effect on business
Limited operating history
Due to the limited operating history, the company may not be able to operate the business successfully or generate sufficient cash flows to make or sustain distributions
IPO FAQs
The category allocation of qualified institutional buyers is 75.0%, the category allocation of non individual investors or high networth individuals is 25.0% and for retail investors it is None%.
The price band of the IPO is Rs 299.0 - 300.0.
The IPO application opens on Mar 18, 2019 and closes on Mar 20, 2019.
This IPO will be allotted on Mar 28, 2019.
The refund will be credited to your account on Mar 29, 2019.
Embassy Office Parks REIT’s shares listed on the stock exchanges on Apr 01, 2019.