A man holds a two thousand Indian rupee banknote for a photograph in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg) 

Embassy Office Parks REIT Allots Rs 1,743-Crore Units To Anchor Investors  

Embassy Office Parks REIT allocated units worth Rs 1,743 crore to anchor investors ahead of its initial public offering.

It finalised allocation of 5.81 crore units at Rs 300 apiece to anchor or large institutional investors, according to a statement. Units were allotted to 59 anchor investors such as Fidelity Funds, Smallcap World Fund, and Kotak Mahindra Life Insurance, among other global fund houses.

The three-day IPO, aimed at paring debt, opens on March 18 to raise Rs 4,750 crore. According to the red-herring prospectus, Rs 876.7 crore will be allocated to strategic investors while the rest of the issue amounting to Rs 3873.7 crore will be allotted to anchor and retail investors. Units worth Rs 968 crore have been set aside for retail investors at Rs 299-300 apiece.