Embassy Office Parks REIT (India’s First REIT) to open IPO books on March 18, 2019 and close books on March 20, 2019

·       Embassy Office Parks REIT (“Embassy REIT”) is issuing Units aggregating up to Rs. 47,500 million (the “Issue”)

·       Bids open on March 18, 2019 and closes on March 20, 2019

·       The Price Band for the Offer is from Rs. 299 to Rs. 300 per Units. Bids can be made for a minimum of 800 Units and in multiples of 400 Units thereafter by Bidders other than Anchor Investors and Strategic Investors.

·       This Issue will constitute at least 10% of the issued and paid-up Units on a post-Issue basis

·       Initial Public Issue in reliance upon regulation 14(1) of the Securities and Exchange Board of India (Real Estate Investment Trusts) regulations, 2014, as amended (the “REIT Regulations”)

Mumbai, March 13, 2019: The initial public offering (IPO) of Embassy Office Parks REIT (“Embassy REIT”), the first ever by a Real Estate Investment Trust in India, will open on March 18, 2019 at a price band of Rs 299 to Rs 300. Embassy REIT is issuing Units aggregating up to Rs. 47,500 million (the “Issue”). This Issue will constitute at least 10% of the issued and paid-up Units on a post-Issue basis in accordance with Regulation 14(2A) of the REIT Regulations. The issue will close on March 20, 2019.

The Units of the Embassy REIT are proposed to be listed on the National Stock Exchange of India Limited (the “NSE”) and BSE Limited (the “BSE”, together with the NSE, the “Stock Exchanges”). The Embassy REIT has received in-principle approvals from the NSE and the BSE for listing of the Units pursuant to letters dated October 11, 2018 and October 9, 2018, respectively. NSE is the Designated Stock Exchange for this Issue. This Issue will constitute at least 10% of the issued and paid-up Units on a post-Issue basis in accordance with Regulation 14(2A) of the REIT Regulations. The Manager, in consultation with the Lead Managers, may retain oversubscription in the Issue in accordance with the REIT Regulations and the SEBI Guidelines.

The Net Proceeds from the Issue will be used for (i) Partial or full repayment or pre-payment of bank/ financial institution debt of certain Asset Special Purpose Vehicles (“SPVS”) and by the Investment Entity, (ii) Payment of consideration for acquisition of the Embassy One Assets currently held by Embassy One Developers Private Limited (“EODPL"), and (iii) General purposes.

The Issue will include participation by Strategic Investors in accordance with the SEBI Guidelines.

The Issue is being made through the Book Building Process and in compliance with the REIT Regulations and the SEBI Guidelines, wherein not more than 75% of the Issue (excluding the Strategic Investor Portion) shall be available for allocation on a proportionate basis to Institutional Investors, provided that the Manager may, in consultation with the Lead Managers, allocate up to 60% of the Institutional Investor Portion to Anchor Investors on a discretionary basis in accordance with the REIT Regulations and the SEBI Guidelines.

Further, not less than 25% of the Issue (excluding the Strategic Investor Portion) shall be available for allocation on a proportionate basis to Non-Institutional Investors, in accordance with the REIT Regulations and the SEBI Guidelines, subject to valid Bids being received at or above the Issue Price

Bids can be made for a minimum lot of 800 Units and in multiples of 400 Units thereafter by Bidders other than the units subscribed for by Anchor Investors and Strategic Investors.

Axis Trustee Services Limited is the Trustee to the Issue while Embassy Office Parks Management Services Private Limited is the Manager to the Issue. Embassy Property Developments Private Limited and BRE/ Mauritius Investments are the Sponsors to the issue.

The Global Coordinators and Book Running Lead Managers (GCBRLMs) to the offer are Morgan Stanley India Company Private Limited, Kotak Mahindra Capital Company Limited, J.P. Morgan India Private Limited and DSP Merrill Lynch Limited. Book Running Lead Managers (“BRLMs”) to the Offer are Axis Capital Limited, Credit Suisse Securities (India) Private Limited, Deutsche Equities India Private Limited, Goldman Sachs (India) Securities Private Limited, HSBC Securities and Capital Markets (India) Private Limited, IIFL Holdings Limited, JM Financial Limited and Nomura Financial Advisory and Securities (India) Private Limited.

Disclaimer:

SEBI Disclaimer: It is to be distinctly understood that submission of the Draft Offer Document, the Offer Document or the Final Offer Document to SEBI should not in any way be deemed or construed that the same has been cleared or approved by SEBI. SEBI does not take any responsibility either for the financial soundness of any scheme or the project for which the Issue is proposed to be made or for the correctness of the statements made or opinions expressed in the Draft offer Document, the Offer Document or the Final Offer Document.

NSE Disclaimer: "It is to be distinctly understood that the permission given by NSE should not in any way be deemed or construed that the Offer Document has been cleared or approved by NSE nor does it certify the correctness or completeness of any of the contents of the Offer Document. The investors are advised to refer to the Offer Document for the full text of the Disclaimer clause of NSE."

BSE Disclaimer: "It is to be distinctly understood that the permission given by BSE Limited should not in any way be deemed or construed that the Offer Document has been cleared or approved by BSE Limited nor does it certify the correctness or completeness of any of the contents of the Offer Document. The investors are advised to refer to the Offer Document for the full text of the Disclaimer clause of the BSE Limited."

Embassy Office Parks REIT is proposing, subject to, receipt of requisite approvals, market conditions and other considerations, to make an Initial Public Offering of its Units and has filed the Offer Document with SEBI. The Offer Document is available on the websites of SEBI, BSE, NSE at www.sebi.gov.in, www.bseindia.com and www.nseindia.com respectively GCBRLMs at www.morganstanley.com, www.investmentbank.kotak.com, www.jpmipl.com and www.ml-india.com and BRLMs at www.axiscapital.co.in, www.creditsuisse.com, www.db.com/India, www.goldmansachs.com, www.hsbc.co.in/1/2/corporate/equitiesglobalinvestmentbanking, www.iiflcap.com, www.jmfl.com &

www.nomuraholdings.com/company/group/asia/india/index.html Potential investors should note that investment in Units involves a high degree of risk and for details relating to the same, see "Risk Factors" beginning on page 22 of the Offer Document. The Units have not been and will not be registered, listed or otherwise qualified in any other jurisdiction outside India and may not be offered or sold, and Bids may not be made by persons in any such jurisdiction, except in compliance with the applicable laws of such jurisdiction.

The units have not been and will not be registered under the U.S. Securities Act of 1933, as amended (“U.S. Securities Act”) or any other applicable law of the United States and, unless so registered, may not be offered or sold within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable state securities laws. Accordingly, the Units are being offered and sold (a) in the United States only to persons reasonably believed to be “qualified institutional buyers” (as defined in Rule 144A under the U.S. Securities Act) in transactions exempt from the registration requirements of the U.S. Securities Act and (b) outside the United States in compliance with Regulation S under the U.S. Securities Act and the applicable laws of the jurisdiction where those offers and sales occur.