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Embassy to Mindspace to Brookfield: why REITs move like stocks but deliver only bond-like returns

Written by News Sateek
Brookfield from Embassy to Mindspace: Why REITs Run Like Stocks But Only Give Bond-like Returns


It’s been seven years since SEBI came up with the rules for REITs. Since then, the asset class has seen several changes in regulations. With businesses recovering from the shock of the pandemic, REITs are seeing strong demand for HNIs. But to make them a popular asset class like more developed markets, additional disclosures are necessary for investors.

In the summer of 2019, when Embassy Office Park became the first real estate investment trust (REIT) to be listed on the Indian stock exchanges, retail investors expected strong listing gains. While the issue was subscribed 2.15 times by qualified institutional investors, interest from the non-institutional category was strong with 3.1 times subscribed. However, retail investors were disappointed as the REIT was listed for Rs 308.

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