The transaction would fetch the private equity firm around $ 325 million or Rs 2,660 crore at the floor price. The floor price has been fixed at Rs 345 per unit, a discount of 1.66% to Monday’s closing price of Rs 350.82.
Abu Dhabi Investment Authority (ADIA), the sovereign fund of Abu Dhabi, is believed to be participating in these block deals and picking up a stake worth $200 million in the REIT.
In September 2021, the global private equity major also sold around a 6% stake in Embassy Office Parks to raise around $275 million. The transactions reduced Blackstone’s stake in the REIT to 32%, from 38%.
Co-sponsored by the Blackstone Group and Embassy Group, Embassy Office Parks REIT is India’s first REIT listed in April 2019.