India's first REIT issue gets fully subscribed on last day

The ₹4,750 crore IPO of Embassy Office Parks REIT, the first by a real estate investment trust in India, was oversubscribed on its last day on Wednesday. The REIT is a joint venture between India's Embassy Group and US-based investor Blackstone Group. Its portfolio comprises seven office parks and four city-centre office buildings totalling to about 33 million square feet.