ABF, Capital Income Builder buy Rs 444 cr shares in Embassy Office Parks REIT
ABF bought over 95 lakh shares
The American Balanced Fund (ABF) and Capital Income Builder picked up shares worth over Rs 444 crore in Embassy Office Parks REIT through open market transactions.
ABF bought over 95 lakh shares and Capital Income Builder purchased more than 43 lakh shares in Embassy Office Parks REIT. Shares were bought at an average price of Rs 321.5 a piece, taking the total deal value to Rs 4,44,71,80,900.
Embassy Office Parks is a joint venture between global investment firm Blackstone and realty firm Embassy Group. Embassy Office Parks launched India's first real estate investment trust (REIT) in March 2019. REIT is an investment tool that owns and operates rent-yielding real estate assets. It allows individual investors to make investment in this platform and earn income.