Home / Companies / News / Embassy Office Parks REIT to float QIP, may raise up to $600 million

Embassy Office Parks REIT to float QIP, may raise up to $600 million

Floor price of Rs 348.38 per unit approved

Embassy Reit delivers returns of more than 20% since market debut

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Promoted by US-based fund manager Blackstone and Bengaluru-based Embassy group, the REIT was listed last year.

1 min read Last Updated : Dec 16 2020 | 12:42 AM IST

Embassy Office Parks REIT today approved fund raising plans through institutional placement of its securities. It will be first such QIP by a real estate investment trust in the country.

According to sources, the REIT could raise anywhere between $500 million and $600 million.

A floor price of Rs 348.38 per unit has been approved by the firm for the institutional placement, according to a notification to the exchanges.

ALSO READ: Allow insurance, pension funds to invest in lower-rated debt: SBI chief

Promoted by US-based fund manager Blackstone and Bengaluru-based Embassy group, the REIT was listed last year.

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