Embassy REIT raises $501 mn

Bengaluru: 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.

"The institutional placement launched on December 15, 2020 and witnessed strong demand from both existing as well as new institutional investors, including global and domestic investors, pension funds, insurers, and alternative asset managers," it said. (IANS)