{"id":93509,"date":"2023-03-03T18:30:00","date_gmt":"2023-03-03T13:00:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=93509"},"modified":"2023-03-03T18:27:45","modified_gmt":"2023-03-03T12:57:45","slug":"biz-embassy-group-2","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-embassy-group-2\/","title":{"rendered":"Embassy Group sells 4.2 crore shares in Embassy REIT to Bain Capital for Rs 1,250-1,300 crore"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2901567777\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Realty firm Embassy Property Developments Pvt Ltd has sold 4.2 crore shares in Embassy Office Parks REIT to Bain Capital for Rs 1,250-1,300 crore to pare debt.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-53268700\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>Bengaluru-based Embassy Group has entered into a strategic sale of a certain portion of its shareholding in Embassy Office Parks REIT to Bain Capital, according to a company statement.<\/p><p>The company did not disclose any further details.<\/p><p>Sources said Embassy Group, who is one of the sponsors of Embassy REIT, has sold around 4.2 crore shares to Bain Capital through block deal for around Rs 1,250-1,300 crore.<\/p><div class=\"trade-content_5\" id=\"trade-376621316\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>Embassy Group&#8217;s stake in Embassy REIT has come down to 8 per cent after this share sale from 12 per cent earlier, sources said.<\/p><p>Share price of Embassy REIT closed at Rs 301.38 per share on the BSE.<\/p><p>The Group will utilise the amount to reduce its debt.<\/p><p>Embassy Group aims to reduce overall debt by approximately 30 per cent before 30th&nbsp;June 2023.<\/p><p>&#8220;As sponsor of Embassy REIT, the Embassy Group reiterates its commitment to the growth, development and management of the REIT and does not have any future plans to sell further ownership in the REIT,&#8221; the statement said.<\/p><p>Over the next few months, Embassy Group will monetise certain other assets to additionally ease debt levels and strengthen its balance sheet.<\/p><div class=\"trade-content-10\" id=\"trade-509495177\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>Embassy Group has achieved sales in excess of Rs 1,100 crore in this fiscal year to help towards debt repayment.<\/p><p>Embassy REIT continues to have multiple marquee institutional investors, including the Abu Dhabi Investment Authority (ADIA), The Blackstone Group, Capital Group, and now Bain Capital.<\/p><p>&#8220;Despite global recessionary concerns, Embassy REIT has delivered quarter after quarter of strong business performance,&#8221; the statement said.<\/p><p>Embassy Office Parks REIT is India&#8217;s first Real Estate Investment Trust (REIT) sponsored by global investment firm Blackstone and Bengaluru-based realty firm Embassy group.<\/p><p>It has a completed portfolio of about 34 million square feet of office space across Bengaluru, Mumbai, Pune and Noida.<\/p><p>REIT, a popular instrument globally, was introduced in India a few years ago to attract investment in the real estate sector by monetising rent-yielding assets. It helps unlock the massive value of real estate assets and enable retail participation. PTI MJH HVA<\/p><div class=\"trade-after-content\" id=\"trade-232217410\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Realty firm Embassy Property Developments Pvt Ltd has sold 4.2 crore shares in Embassy Office Parks REIT to Bain Capital for Rs 1,250-1,300 crore to pare debt. Bengaluru-based Embassy Group has entered into a strategic sale of a certain portion of its shareholding in Embassy Office Parks REIT to Bain Capital, according to a company [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":81084,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1696,31],"tags":[],"class_list":["post-93509","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate-action","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Embassy Group sells 4.2 crore shares in Embassy REIT to Bain Capital for Rs 1,250-1,300 crore - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"Realty firm Embassy Property Developments Pvt Ltd has sold 4.2 crore shares in Embassy Office Parks REIT to Bain Capital for Rs 1,250-1,300 crore to pare debt.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-embassy-group-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Embassy Group sells 4.2 crore shares in Embassy REIT to Bain Capital for Rs 1,250-1,300 crore\" \/>\n<meta property=\"og:description\" content=\"Realty firm Embassy Property Developments Pvt Ltd has sold 4.2 crore shares in Embassy Office Parks REIT to Bain Capital for Rs 1,250-1,300 crore to pare debt.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/tradebrains.in\/features\/biz-embassy-group-2\/\" \/>\n<meta property=\"og:site_name\" content=\"Trade Brains Features\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/TradeBrainsOfficial\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-03T13:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/money-cover-image-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"854\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"PTI News\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/money-cover-image-1.jpg\" \/>\n<meta name=\"twitter:creator\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:site\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"PTI News\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/tradebrains.in\/features\/biz-embassy-group-2\/\",\"url\":\"https:\/\/tradebrains.in\/features\/biz-embassy-group-2\/\",\"name\":\"Embassy Group sells 4.2 crore shares in Embassy REIT to Bain Capital for Rs 1,250-1,300 crore - 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