Embassy REIT Block Deal | Over 23% equity worth ₹7,148 crore changes hands

The report stated, quoting sources, that the floor price for the transaction was set at ₹310 per share and the estimated size of the transaction will reach $833 million.

REIT, a popular instrument globally, was introduced in India a few years ago to attract investment in the real estate sector by monetising rent-yielding assets. It helps unlock the massive value of real estate assets and enables retail participation.

Embassy Office Parks REIT is India's first real estate investment trust (REIT) sponsored by global investment firm Blackstone and Bengaluru-based realty firm Embassy Group.

Embassy Office Parks REIT reported a 4% annual growth in revenue from operations at ₹889 crore for the second quarter of this fiscal year and declared distribution of ₹524 crore to unit-holders. Revenue from operations stood at ₹857.12 crore in the year-ago period, according to a regulatory filing.

During the July-September period of this fiscal, Embassy REIT leased a record two million square feet across 25 deals, including 1.2 million square feet of new leases. It signed seven new deals over one lakh square feet, reflecting a return of large deal closures.

Embassy REIT was trading 2.4% lower at ₹327.6 apiece at 9.25am on December 20.