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Embassy REIT raises $501 million through institutional placement

Embassy REIT raises $501 m via QIP route SECTIONS Share Synopsis The funds will be utilised to support the proposed $1.3-billion acquisition of Embassy TechVillage, an integrated office park in Bengaluru. Through this QIP, existing investors like the Capital Group and Fidelity Investments have increased their holdings in the REIT, which is one of the largest in Asia by area. INSIGHTS NSE Explore Now The Blackstone Group and Embassy Group-backed India’s first listed REIT, Embassy Office Parks REIT, has raised $501 million or Rs 3,680 crore through a Qualified Institutional Placement of its units. The funds will be utilised to support the proposed $1.3-billion acquisition of Embassy TechVillage, an integrated office park in Bengaluru.

Embassy REIT completes fund raise of $501 million

Embassy REIT completes fund raise of $501 million Updated: Updated: Proceeds to help with ETV acquisition Share Article Proceeds to help with ETV acquisition Embassy REIT said on Monday that it had completed a capital raise of $501 million through an Institutional Placement of units. The Securities Committee of the board of Embassy Office Parks Management Services Private Ltd., manager to Embassy REIT, approved the issuance and allotment of 111,335,400 new units through this placement on December 22, the company said in a release. Trading of these units is expected to commence on or about December 24 on the National Stock Exchange and the BSE.

Embassy REIT raises $501 million through Institutional Placement of Units

Embassy REIT raises $501 million through Institutional Placement of Units Updated: Updated: December 22, 2020 13:31 IST Trading of these units is expected to commence on or around December 24 on NSE and BSE exchanges. Share Article AAA Trading of these units is expected to commence on or around December 24 on NSE and BSE exchanges. Embassy REIT said on December 21 that it completed a unit capital raise of $501 million through an Institutional Placement of units. The Securities Committee of the Board of Directors of Embassy Office Parks Management Services Private Limited (EOPMSPL), Manager to Embassy REIT, approved the issuance and allotment of 111,335,400 new units through this Institutional Placement on December 22 said the company in a release.

Embassy REIT raises $501mn via institutional placement of units

Embassy REIT raises $501mn via institutional placement of units ​ By IANS | Published on ​ Tue, Dec 22 2020 11:42 IST | ​ 0 Views Dollar.. Image Source: IANS News Bengaluru, Dec 22 : Embassy Office Parks REIT on Tuesday announced it has successfully completed a unit capital raise of $501 million through an institutional placement of units. The Securities Committee of the Board of Directors of Embassy Office Parks Management Services Private Limited, Manager to Embassy REIT, approved the issuance and allotment of over 11.13 crore new units through this institutional placement in a meeting held on Tuesday, the Embassy REIT said in a regulatory filing. Trading of these units is expected to commence on or around December 24, 2020 on NSE and BSE.

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