Embassy Office Parks REIT’s unitholders have approved plans to raise up to Rs 8,000 crore through sale of units to institutional investors, mainly to fund its big-ticket acquisition of ‘Embassy TechVillage’ in Bengaluru. Unitholders have approved “raising of funds through an institutional placement(s) of units of Embassy REIT not exceeding Rs 80,000 million to institutional investors in one or more placements.” They gave green signal to a preferential issue of up to 65,579,400 units of Embassy REIT at a price of Rs 356.70 per unit.
Embassy REIT gets unitholders’ approval to raise up to Rs 8,000 crore
Date posted: Monday 14 December 2020