Embassy Techzone News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Embassy Office Parks REIT - Share of dividend to rise going ahead - ICICI Securities Posted On: 2021-03-09 08:58:59 (Time Zone: Arizona, USA) As per an exchange announcement, The Embassy Office Parks REIT (Embassy REIT) has received approval from the National Company Law Tribunal ( NCLT ) in relation to its composite scheme of arrangement among its entities that restructures and simplifies the ownership of key portfolio assets, including Embassy Manyata, Bengaluru and Embassy TechZone, Pune. Post the expected completion of collapsing the Manyata SPV shareholding into a two-tier structure, we expect the overall share of tax-free dividends plus SPV debt amortization to rise from ~62% in 9MFY21 to between 70-75% from FY22E onwards. We upgrade our rating to BUY from ADD with an unchanged target price of Rs400/unit as we have already built-in the collapsing of the Manyata shareholding structure in our estimates from FY22E onwards. At CMP of Rs329, the Embassy REIT offers an estim

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