Embassy Office Parks REIT Profile
Embassy Office Parks is the proprietor of a superior office portfolio in India. It serves as essential corporate infrastructure to multinational tenants and has significant embedded growth prospects. The Group includes 7 best-in-class office parks and four prime city-center office buildings totaling 32.6 msf with strategic amenities. Also includes one operational and 3 under-construction hotels totaling 1,096 keys, food courts, employee transportation and childcare facilities. They believe Embassy have invested in the highest quality assets in the best performing submarkets of India’s top office markets of Bengaluru, Pune, Mumbai and Noida.
Embassy Office Parks own one of India’s biggest office portfolios around 81.4% of the Gross Rentals from their 160 marquee tenant base is contracted with leading MNC’s and approximately 43.8% is contracted with Fortune 500 companies, such as JP Morgan, Google and Microsoft. There high quality tenant base, along with long-term contracted rentals (weighted average lease length of 6.9 years) provides considerable stability to the Portfolio.
Embassy Office Parks REIT Promoters:
The Promoters of the Company are: Embassy Sponsor, Blackstone Sponsor
Embassy Office Parks REIT IPO details:
Symbol: EMBASSY
Issue Size: Initial Public offer of [.] units aggregating up to Rs 47,500 Million (including Strategic Investor portion aggregating to Rs 8,763 Million and Anchor investor portion of 58,105,600 Units)
Face Value:
Price Range: Rs 299 to Rs 300
Issue Type: 100% Book Building
Bid Lot: 400 units
Minimum Order Quantity: 800 units
Issue Period: 18 March 2019 to 20 March 2019
Maximum Subscription Amount for Retail Investor:
Registrar: Karvy Fintech Private Limited
Listing At: BSE, NSE
IPO Market Timings: 10.00 a.m. to 5.00 p.m.
Embassy Office Parks REIT Financials:
| Embassy Office Parks’s financial performance (in INR crore) | ||||||
| FY2016 | FY2017 | FY2018 | 9M FY2019 | |||
| Total revenue | 1,575.4 | 1,645.6 | 1,766.3 | 1,493.2 | ||
| Profit after tax | 93.2 | 177.1 | 256.9 | 285.1 | ||
| Net margin (%) | 5.9 | 10.8 | 14.5 | 19.1 | ||
Embassy Office Parks REIT IPO Subscription Details:
| Category | Shares offered | Subscription (no. of times) | ||
| Day1 | Day 2 | Day 3 | ||
| Institutional Investors | 38,866,800 | 0.30 | 0.59 | 2.14 |
| Non Institutional Investors | 32,389,600 | 0.07 | 0.32 | 3.02 |
| Total | 71,256,400 | 0.19 | 0.47 | 2.54 |
Embassy Office Parks REIT Grey Market Price, Rates, GMP Premium
Embassy Office Parks REIT IPO Grey Market Premium (GMP) as on 21 March 2019 today at n/a with Kostak at Rs n/a.
Embassy Office Parks REIT IPO Grey Market Premium (GMP) as on 20 March 2019 at n/a with Kostak at Rs n/a.
Embassy Office Parks REIT IPO Grey Market Premium (GMP) as on 19 March 2019 at n/a with Kostak at Rs n/a.
Embassy Office Parks REIT IPO Grey Market Premium (GMP) as on 18 March 2019 at n/a with Kostak at Rs n/a.
Embassy Office Parks REIT IPO Grey Market Premium (GMP) as on 17 March 2019 at n/a with Kostak at Rs n/a.
Embassy Office Parks REIT Allotment Status:
Embassy Office Parks REIT IPO Allotment Date: 28 March 2019
Embassy Office Parks REIT IPO Listing Date: 3 April 2019
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