Globe Residency REIT Raises Rs. 388 Million

Globe Residency REIT garnered an overwhelming response in its public offering. The offer for sale was over-subscribed by 2.77 times. Javedan Corporation Limited (JCL) has received a subscription of Rs. 387,945,000 from the general public.

The REIT fund size is Rs. R 2.8 billion; Rs. 1.4 billion each of Debt and Equity. The project cost is estimated at Rs. 20 billion. 14 million units, which make up 10 percent of the total units of the REIT Scheme were offered to the general public.