Embassy has a long-standing partnership with Blackstone through their JV Embassy Office Parks, which has floated and listed a real estate investment trust (REIT)
It received bids for 5,88,18,600 units against the 7,62,78,200 on offer, according to an update on the NSE
Allowing debt financing by FPIs will reduce cost of funding, say experts
Brookfield is an alternative asset manager
2021 should be a year in which commercial asset story will continue to grow and lead the recovery in the real estate sector post pandemic
Says country is firmly behind him as his government makes new laws and repeals archaic ones
The issue was on a private placement basis
Mindspace Business Parks is India's second REIT (Real Estate Investment Trust), and got listed this year after a successful launch of public issue of about Rs 4,500 crore.
DLF arm's REIT could come out in 12-15 months, DLF director Ashok Tyagi said in a conference call last week
Realty major DLF's rental arm has started the process of structuring its rent-yielding commercial assets in REIT form but the timing to launch the public issue will be decided by the promoters
Brookfield's proposal to launch REIT public issue for raising over Rs 4,000 crore augurs well for the future of India's office market, according to realty experts.
In a circular, Sebi said units of InvITs and REITs meeting certain conditions may be permitted to list on stock exchanges operating in the IFSC
Global rivals go for joint ventures, plan to list investments by next year.
Analysts say several have raised funds by selling rental-yielding assets, some second rung cash-strapped builders are asking their banks and financial creditors to take over half-completed projects
The participation of retail investors will also increase in future REITs, enabling them to earn dividend income from fully leased and listed commercial real estate
Mindspace REIT has already allotted units worth Rs 2,644 crore to anchor investors
The price band for the REIT offering is Rs 274-Rs 275 per unit
The near-term outlook is uncertain and may weigh on its rental portfolio
The IPO will open on July 27 and close two days later.
The real estate investment trust will offer about Rs 1,000 crore of new shares while the founders will offer the remaining