Stocks

Blackstone raises ₹2,270 cr via stake-sale

PTI New Delhi | Updated on June 24, 2020

Global fund Blackstone on Wednesday raised around $300 million (about ₹2,270 crore) by selling its shares in Embassy Office Parks REIT to monetise part of its investment, sources said. Blackstone was targeting to raise up to $257 million (around ₹1,950 crore), but increased the size of its offer on account of increased demand from institutional investors. Embassy Office Parks REIT is the country’s first Real Estate Investment Trust (REIT), which was launched last year by realty firm Embassy group and global investment firm Blackstone to raise nearly ₹5,000 crore. The REIT is listed on the stock exchange. Post this deal, Blackstone stake will come down by around 9 per cent from around 55 per cent shareholding earlier.

Published on June 24, 2020

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