The company said its priority remains delivering a safe workplace and business ecosystem for occupiers and their employees
Post this deal, Blackstone stake will come down by around nine per cent from around 55 per cent shareholding earlier.
The secondary placement of units in a price band of Rs 340-350 apiece is at a discount of 3.7-6.4 per cent to Tuesday's closing price of Rs 363.55 on the National Stock Exchange.
While the Covid-19 pandemic has resulted in an uncertain near-term outlook for many businesses worldwide, Holland said Embassy REIT is uniquely positioned to weather the pandemic
A total of 946 companies, including ONGC, Embassy Office Parks REIT, and Fortis Healthcare are scheduled to announce their December quarter earnings today
The REIT has roped in 13 bankers, including Morgan Stanley, CLSA, and Nomura for the issue.
Given that market rents are 30 per cent higher than the current rents that tenants pay, there is significant room for increasing rates for expiring leases.
Embassy REIT's CEO Michael Holland said the company has reported another strong quarter of performance
REIT is an investment tool that owns and operates rent-yielding real estate assets. It allows individual investors to make investments in this platform and earn income.
Analysts say the offer is a good investment bet for investors who are looking for a safer investment option as compared to equities and an assured return over a two-three year period