American Balanced Fund sells Rs1,046 crore of Embassy Office REIT shares

19 Aug 2022 , 09:41 AM

In an open market transaction on Thursday, American Balanced Fund sells 2.9 crore shares of real estate investment trust Embassy Office Parks REIT.

The total transaction proceeds aggregated to Rs1,046 crore.

American Fund offloaded 2,92,62,468 shares of Embassy REIT under this transaction.

The fund disposed off shares at an average price of Rs357.61 per piece, with an aggregate transaction value of Rs1,046.45 crore.

On the contrary, ICICI Prudential Mutual Fund bought off these shares of the REIT.

At around 9.39 AM, Embassy Office Park REIT was trading 0.60% higher at Rs363.10, against the previous close of Rs360.94 on BSE. So far, it hit intraday high and low of Rs364.05 and Rs362 respectively.