Blackstone Group sells over 5.7 cr units in Embassy Office Parks REIT

17 Sep 2021 CW Team

According to sources, Blackstone Group sold its 5.7 crore units worth over Rs 2,000 crore in Embassy Office Parks real estate investment trust (REIT) as a strategy to monetise part of its investment.

The first real estate investment trust in the country is Embassy REIT, which is sponsored by realty firms Embassy Group and Blackstone Group.

In April 2019, Embassy Office Parks RETI got listed on the stock exchange market after raising about Rs 5,000 crore through a public issue.

As per Bombay Stock Exchange (BSE) data, Blackstone has sold about 2.73 crore units at Rs 355 per unit, making nearly Rs 969 crore.

Blackstone Group had sold its 5.7 crore units via multiple trading on stock exchanges and raised nearly Rs 2,025 crore, said the sources.

All the trades were not counted as bulk deals because some of them were below the threshold limit for such classifications.

Sources told the media that a total of 14 entities of Blackstone sold 5.7 crore units for Rs 2,025 crore.

On Wednesday, Embassy REIT's price declined by 4.76% to Rs 355.84 per unit on the BSE.

Embassy Group has about a 12% stake. It is estimated that after the deal, Blackstone's unitholding will fall by about 6% to 32%.

Last year in June 2020, Blackstone Group had raised nearly Rs 2,270 crore by selling its shares in Embassy Office Parks REIT.

Blackstone Group has deployed over $12.5 billion in the Indian real estate market.

Apart from Embassy Office Parks REIT, Blackstone has sponsored the second REIT of the country, Mindspace Business Parks REIT.

This year, the company acquired the office, retail business, hospitality portfolio of Prestige Group, a realty firm.

Currently, in India, Blackstone has more than $50 billion of assets under management.

Image Source

Also read: Tarc sells two assets worth Rs 295 crore to Blackstone

Also read: Blackstone to acquire Home Partners for $6 billion

Infrastructure Energy

19 Sep 2025

J&K CM Rules Out Power Privatisation, Focuses on Sector Reform

Jammu and Kashmir Chief Minister Omar Abdullah has dismissed speculation regarding privatisation of electricity in the Union Territory, emphasising that his priority is to strengthen and reform the power sector.“We are not discussing privatisation. By reducing losses, improving billing efficiency, and enhancing revenue, there will be no need for it. My vision is to strengthen and reform the power sector in J&K,” Abdullah stated.He addressed the gathering at the 58th Engineers’ Day at SKICC on Monday evening, an event honouring Bharat Ratna Sir M Visvesvaraya for his pioneering contri..

Mumbai’s Sassoon Dock to Get Tech-Driven Modernisation with Finland

The Maharashtra government, in collaboration with Finland, will modernise Mumbai’s historic Sassoon Dock using advanced technology, state minister Nitesh Rane announced on Wednesday.Rane met a delegation of Finnish officials and representatives of Finnish companies at the dock to discuss strategic plans for upgrading the facility in south Mumbai, according to an official statement.Built in the 19th century, Sassoon Dock is one of Mumbai’s oldest and busiest fishing harbours. Operations currently exceed its original capacity, raising concerns over hygiene, odour, fish handling standards, an..

Agarwal Industrial Wins Rs 3.3 Billion IOCL Bitumen Tender

Agarwal Industrial Corporation rose 3.84 per cent to Rs 945.65 after announcing it had secured a prestigious tender from Indian Oil Corporation (IOCL) worth Rs 3.3 billion.In a regulatory filing during market hours, the company confirmed it had won the tender to supply Bulk Bitumen (VG-30 and VG-40 grades) to IOCL’s Kakinada locations.The firm quantity under the award totals around 60,500 tonnes across 11 parcels, while the optional quantity is approximately 33,000 tonnes across six parcels. This brings the total awarded quantity to roughly 93,500 tonnes. At current market prices, the firm o..