Embassy Office Parks eyes India’s first Reit IPO

By John Loh
27 Sep 2018

Embassy Office Parks Reit filed for India’s first property trust this week, pushing ahead with an IPO that has been in the works for years. The joint venture of Blackstone and its local partner will be hoping to exorcise the ghosts of infrastructure investment trusts (InvIt) past, with the pressure on for a successful outcome. John Loh reports.

The listing is set to raise Rp52.5bn in primary capital, but its expected size is closer to Rp60bn ($820m) including the portion to be sold by the owners, said a banker on the deal. The pre-marketing and launch dates are still being decided, he added.

The Reit will ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial