Embassy REIT's Board approves fund raise of Rs1000 crore

17 Mar 2022 , 10:53 AM

In its filing with the exchanges, Embassy REIT Limited informed the investors and exchanges that in its meeting held on March 17, 2022, through audio-visual electronic communication, the Board of Directors has approved fundraising by way of issuance of listed, rated, secured, redeemable, transferable, rupee-denominated non-convertible debentures aggregating up to Rs1,000 crore in one or more tranches by the Embassy REIT.

The funds raised will be utilized towards ongoing growth initiatives including development and acquisition(s), investment in the holding company special purpose vehicles or the investment entity of the Embassy REIT, including through subscription to debt securities and general purposes, subject to applicable law at the discretion of and in such manner as may be approved by the Board.

The debenture committee will be responsible to take all decisions and actions concerning any proposed issuance of debentures.

Embassy Office Parks REIT is currently trading at Rs377.40 down by Rs0.04 or 0.01% from its previous closing of Rs377.44 on the BSE.