Units of Embassy Office Parks REIT rose as much as 3.7 per cent on their market debut on Monday, after the real estate investment trust raised Rs 4,750 crore ($686.61 million) in India's first such listing.
The unit was trading at Rs 312 at 10.20 am, trading higher by 4 per cent, compared with the IPO price band of Rs 299-300.
Earlier this month, investors bid for about 183.5 million units, or 2.57 times the 71.3 million on offer. The REIT is a joint-venture between Embassy Group and U.S.-based equity investor Blackstone Group LP. ($1 = 69.1800 Indian rupees)