IPO-bound Embassy REIT has allotted 5.81 crore shares in the upper band of Rs 300 per unit, aggregating to Rs 1,743 crore, as part of the anchor investor allotment.

Among the 59 anchor investors, Smallcap World Fund has been allotted 42.8 lakh shares, Fidelity Funds - Asian Special Situations Fund 44.16 lakh shares, Signature High Income Fund 29.05 lakh shares, and Prusik Umbrella Ucitis Fund 23.2 lakh shares.

The initial issue of REIT will open on March 18 with a price band of Rs 299-300 per unit and will close on March 20. The total issue size is 12,95,56,000 units.

The IPO is expected to raise up to Rs 4,750 crore, while it has already received Rs 876-crore commitment from strategic investors.

Embassy Office Parks, a leading player in commercial real estate, has put 33 million sq ft of office and hospitality assets under its REIT, comprising of seven business parks and four city-centric buildings spread across Mumbai, Bengaluru, Pune and Noida.

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.

The Sebi had notified REIT's regulations in 2014, allowing setting up and listing of such trusts, which are popular in some advanced markets.

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