Blackstone Group's REIT seeks to raise $682 million in India listing

A successful listing of the REIT, expected by April 3 according to the terms, will potentially open a fundraising avenue for India's cash-starved property companies

Embassy Office Parks REIT, backed by Blackstone Group, plans to raise about Rs 4,750 crore ($682 million) in India’s first real estate investment trust listing.

The REIT, which includes Embassy Group properties, will offer as many as 

158.6 million units at Rs 299 to Rs 300 apiece, according to terms for the deal obtained by Bloomberg. It will start taking orders from anchor investors on Friday before moving on to a public offering March 18 through March 20, the terms show.

A successful listing of the REIT, expected by April 3 according to the terms, will potentially open a fundraising avenue for India’s