EFC arm gets SEBI nod for SM REIT, set to launch Rs 500 cr initial public offer

registration for EMBERSTONE SM REIT as a Small & Medium Real Estate Investment Trust (SM REIT).

Following this. EMBERSTONE SM REIT is eligible to make an initial offer for units of its first scheme for an amount of up to Rs 500 crores.

<div data-placement=«Mid Article Thumbnails» data-target_type=«mix» data-mode=«thumbnails-mid» style=«min-height:400px; margin-bottom:12px;» class=«wdt-taboola» id=«taboola-mid-article-thumbnails-114783045»>

As an investment manager of EMBERSTONE SM REIT, EFC REIT will oversee investments raised through the initial offer and manage the acquisition and operation of commercial real estate assets in terms of the REIT Regulations, the company said in a regulatory filing.

<div data-placement=«Mid Article Thumbnails» data-target_type=«mix» data-mode=«thumbnails-mid» style=«min-height:400px; margin-bottom:12px;» class=«wdt-taboola» id=«taboola-mid-article-thumbnails-114783045»>

This development is expected to help expand the EFC Group’s Assets Under Management (AUM) and its managed office space portfolio across the country, the company said.

<div data-placement=«Mid Article Thumbnails» data-target_type=«mix» data-mode=«thumbnails-mid» style=«min-height:400px; margin-bottom:12px;» class=«wdt-taboola» id=«taboola-mid-article-thumbnails-114783045»>

EFC has reported a 230% year-on-year growth in consolidated net profit of Rs 36.56 crore for the quarter ended September. The company's consolidated total income rose 73% from a year ago to Rs 171.08 crore during the quarter.

(You can now subscribe to our ETMarkets WhatsApp channel)
Read more on economictimes.indiatimes.com