Blackstone lines up exit from Embassy REIT for Rs 6,913 crore
时间:2024-06-26 14:58:13 阅读(143)
Global private equity firm Blackstone is planning to launch a share sale on Wednesday to sell its 23.5% holding in Embassy Office Parks REIT (Embassy REIT) through a block deal, sources in the know have revealed. Blackstone aims to raise 6,913 crore ($833 million) from the stake sale, the sources added. “They plan to keep floor price at310 apiece and they aim to raise $ 833 million from the sale ,” the sources stated.
Embassy Office Park REIT’s share price rose 3.29% to 335 on the NSE with the current market capitalisation at31,754 crore. At Tuesday’s price, Blackstone’s stake is worth 7,462 crore. A Blackstone spokesperson did not offer any comments on the development. Kotak Mahindra Capital and IIFL Capital are the advisors for the proposed trade, reports said on Tuesday. Embassy REIT is the first listed REIT in the country. Blackstone and its partner Embassy group listed the REIT in 2019.
It is also working on a Mega REIT with its partners Panchshil Realty and Salarpuria Sattva which is expected it hit the market next year. Embassy Office Parks REIT leased 2 million square feet of office space across 25 deals in the second quarter of FY24, with an operational revenue of889 crore, a rise of 4%.
下一篇:Zomato target price cut further by Ashwath Damodaran; valuation guru says stock ‘still not a buy’
猜你喜欢
- Stocks To Watch- Cipla, Oil India, Escorts Kubota, Ramco Cements, Tata Power, Hero MotoCorp
- Nifty headed for 15,000 ahead of Budget 2021; charts show extreme bullishness in these sectors
- Navy begins investigation into attack on merchant vessel off India’s west coast
- Nature’s Basket launches ‘Artisan Pantry’- Shashwat Goenka expects better Q3 performance, plans to open 2 more stores
- Natural gas consumption down 6%- Energy mission 2030 running out of gas
- Stocks To watch- Polycab, SpiceJet, JSW Steel, M&M, Bank of India, Phoenix Mills
- Navigating the complex terrain of year-end trends; Assessing sector dynamics and overbought conditions
- Mumbai Khiladis onboard 5 brands for Ultimate Kho Kho Season 2
- Stocks To Watch- HDFC, HDFC Bank, Adani Transmission, Vedanta, Reliance Industries, Coal India, GHCL, NTPC