Embassy Office Parks REIT makes stock market debut, ends 5% higher

REIT is an investment tool that owns and operates rent-yielding real estate assets. It allows individual investors to make investments in this platform and earn income.

Units of Embassy Office Parks REIT rose as much as 8 per cent to Rs 324 apiece in the intra-day trade on BSE after making a debut at Rs 300, the same as the issue price. It eventually closed at Rs 314 apiece on BSE, up 4.70 per cent.  

The issue, which opened for subscription during March 18-20, was subscribed 2.57 times at the end of the three-day bidding process, helping the firm raise Rs 4,750 crore. The price band of the offer has been fixed Rs 299 - Rs 300. 

Embassy Office Parks, the joint venture of Blackstone and realty