ICICI Securities Limited
Embassy Office Parks Real Estate Investment Trust (EOPREIT) is expected to be India's first publicly listed REIT. EOPREIT's portfolio consists of seven Grade A office parks and four prime city-centre office buildings with total area of 32.7 msf, including hotels totalling 1,096 keys and 100 MW solar park, all located in strategic submarkets of key cities in India. The portfolio has 95.0% committed occupancy for its office portfolio, while overall hotel occupancy is at 67.7%. The IPO issue size is | 4,750 crore, which would lead to 20.5% post-IPO equity dilution. The IPO size...
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