iifl-logo

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

Embassy REIT plummets 5% after Rs 7,148 crore block deal

20 Dec 2023 , 02:36 PM

Embassy Office Parks REIT shares fell roughly 5% in early trading on December 20 following a Rs 7,148-crore block deal. The counter touched an intraday low of Rs 316.

At a floor price of Rs 319.65, about 22.36 crore shares, representing a 23.60% stake in Embassy Office Parks REIT, changed hands on the stock exchanges.

The block transaction has also resulted in a surge in volume in the counter, with 23 crore shares changing hands on the bourses thus far, much above the one-month daily traded average of 9 lakh shares.

Earlier it was reported that the private equity firm Blackstone was planning to exit Embassy Office Parks REIT, through a mega block deal of $833 million.

The private equity group wanted to sell its whole 23.6% stake in the Embassy REIT through the transaction method at a floor price of Rs 310 per share, representing a nearly 8% discount to the stock’s previous closing price of Rs 335.75.

Aside from Blackstone, other notable institutional investors that hold stake in Embassy REIT include Abu Dhabi Investment Authority, Capital Group, and Bain Capital.

At around 2.33 PM, Embassy REIT was trading 1.01% lower at Rs 332.15, against the previous close of Rs 335.64 on NSE, recovering from early losses. 

For feedback and suggestions, write to us at editorial@iifl.com

explored-media

Related Tags

  • Embassy REIT
  • Embassy REIT Block Deal
  • Embassy REIT News
  • Embassy REIT Stock
  • Embassy REIT Updates
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

Knowledge Center
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Capital Services Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Loading...

Follow us on

facebooktwitterrssyoutubeinstagramlinkedintelegram

2025, IIFL Capital Services Ltd. All Rights Reserved

ATTENTION INVESTORS

RISK DISCLOSURE ON DERIVATIVES

Copyright © IIFL Capital Services Limited (Formerly known as IIFL Securities Ltd). All rights Reserved.

IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)

ISO certification icon
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.