Embassy REIT raises Rs 36.8 billion unit capital through an institutional placement

Embassy Office Parks REIT announced on December 22 that it has successfully completed a unit capital raise of Rs 36.8 billion ($501 million) through an Institutional placement of units.

The Securities Committee of the Board of Directors of Embassy Office Parks Management Services, Manager to Embassy REIT, approved the issuance and allotment of 1,11,335,400 new units through this Institutional placement at a meeting held on December 22.

Trading of these units is expected to commence on or around December 24, on NSE and BSE exchanges.

Mike Holland, Chief Executive Officer of Embassy REIT said, “We appreciate the overwhelming support we received from our existing investors as well as many new domestic and global institutional investors in our first-ever Institutional placement.”