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Embassy Office Parks REIT, the first ever by a Real Estate Investment Trust in India, will open on March 18 at a price band of ₹299 to ₹300. Embassy REIT is issuing units aggregating up to ₹4,750 crore. The issue will close on March 20. The units of the Embassy REIT are proposed to be listed on the NSE and the BSE. The NSE is the designated stock exchange for this issue.
The net proceeds from the issue will be used for partial or full repayment or pre-payment of bank/ financial institution debt of certain special purpose vehicles (SPVs), payment of consideration for acquisition of the Embassy One’s assets currently held by Embassy One Developers Pvt Ltd and for general purposes.
Bids can be made for a minimum lot of 800 units and in multiples of 400 thereafter.
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