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American Balanced Fund, Capital Income Builder buy Rs 444 cr shares in Embassy Office Parks REIT

Business Finance

Press Trust of India  |  New Delhi 

American Balanced Fund and Capital Income Builder on Friday picked up shares worth over Rs 444 crore in Embassy Office Parks REIT through open market transactions.

American Balanced Fund bought over 95 lakh shares and Capital Income Builder purchased more than 43 lakh shares in Embassy Office Parks REIT, the BSE bulk data showed.

Shares were bought at an average price of Rs 321.5 apiece, taking the total deal value to Rs 4,44,71,80,900.

According to a separate transaction, Reddy Veeranna offloaded over 1.5 crore shares of Embassy Office Parks REIT for over Rs 502 crore.

On BSE, Embassy Office Parks REIT on Friday closed at Rs 320.44, down 4.34 per cent.

Embassy Office Parks is a joint venture between global investment firm Blackstone and realty firm Embassy Group.

Embassy Office Parks launched India's first real estate investment trust (REIT) in March 2019.

REIT is an investment tool that owns and operates rent-yielding real estate assets. It allows individual investors to make investment in this platform and earn income.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Fri, April 03 2020. 20:58 IST