Embassy office parks IPO oversubscribed.

Embassy Office Parks' REIT IPO was subscribed 2.58 times by the evening of third and concluding day of the subscription period, according to data from the stock exchanges.

A JV between Embassy Group and Blackstone, Embassy Office Parks planned to raise around Rs 4,750 crore in what is billed as India's first REIT (Real Estate Investment Trust) listing.

The institutional investors' portion (75 per cent) was subscribed 2.15 times. The rest non-institutional investor portion saw subscription of 3.10 times. A fixed rental yield plus a potential for capital appreciation made REIT investments in the commercial real estate place attractive for institutional and high net-worth investors.

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