Embassy Office Parks REIT has raised Rs 3,680 crore ($501 million) through sale of units to institutional investors and will use this amount to partly fund its acquisition of IT park ‘Embassy TechVillage’ in Bengaluru. The Securities Committee of the Board of Directors of Embassy Office Parks Management Services, Manager to Embassy REIT, approved the issuance and allotment of 111,335,400 new units through this institutional placement in a meeting held on December 22, 2020.
Embassy REIT is India’s first publicly-listed REIT (Real Estate Investment Trust) sponsored by Blackstone and Embassy group.
