The offer received bids for 3,31,90,000 units against the total issue size of 7,12,56,400 units, as per data available with the NSE.
The category reserved for institutional investors was subscribed 59 per cent and other investors 32 per cent, according to the exchange data till around 5 pm (IST).
As per a regulatory filing on Friday, Embassy Office Parks allocated 58,105,600 units to anchor investors at Rs 300 per unit, raising Rs 1,743.16 crore.
The issue is in a price band of Rs 299-300 per unit and will close on March 20.
REIT is an investment tool that owns and operates rent-yielding real estate assets. It allows individual investors to make investment in this platform and earn income. Embassy Office Parks is a joint venture of Blackstone and Embassy.
Axis Capital, Credit Suisse Securities (India), Deutsche Equities India, Goldman Sachs (India) Securities, HSBC Securities and Capital Markets (India), IIFL Holdings, JM Financial and Nomura Financial Advisory and Securities (India) are managing the public offer.
Analysts said one must understand that it is a long-term play, just like holding a property where capital appreciation is as important as rentals. The risks are hence same as holding a property.
REITs resemble a mutual fund, wherein several investors pool in funds with real estate as the underlying asset class, said Arvind Nandan, Executive Director-Research at Knight Frank India.
The Embassy Office Parks REIT comprises seven office parks and four office buildings, totalling 32.6 million square feet as of March 31, 2018. All completed (88.9 per cent market value) and under-construction (11.1 per cent) properties are valued at Rs 34,000 crore. Bengaluru is the biggest by geography, accounting for 60 per cent of market value, followed by Mumbai (16.2 per cent), Pune (14.4 per cent) and Noida (8.9 per cent).
