Embassy Office Parks REIT to raise up to Rs 2,000 cr via issuance of NCDs

Embassy Office Parks REIT on Friday said its board has approved a proposal to raise up to Rs 2,000 crore through issuance of non-convertible debentures (NCDs) in one or more tranches.

This will be the second fund raise by the listed REIT via the NCD route. It had raised Rs 3,650 crore in FY20. The REIT had reported a muted 1 per cent year-on-year rise in net operating income for the quarter ended June at Rs 456.9 crore. 

The Blackstone-backed REIT is the first listed REIT in the country. The global fund, Blackstone, had in June this year raised about Rs 2,270