Reddy Veeranna offloaded shares of Embassy Office Parks REIT
Reddy Veeranna offloaded over 1.5 crore shares of Embassy Office Parks REIT for over Rs 502 crore.
American Balanced Fund and Capital Income Builder on Friday picked up shares worth over Rs 444 crore in Embassy Office Parks REIT through open market transactions. American Balanced Fund bought over 95 lakh of shares and Capital Income Builder purchased more than 43 lakh of shares in Embassy Office Parks REIT, BSE bulk data has shown the result.
The complete shares have been bought at an average price of Rs 321.5, taking the total deal value to Rs 4,44,71,80,900. According to a separate transaction, Reddy Veeranna dropped over 1.5 crore shares of Embassy Office Parks REIT for over Rs 502 crore. Embassy Office Parks launched its india’s first real estate investment trust (REIT) in March 2019. “REIT” is basically an investment tool that operates as a rent-yielding real estate asset which means that the return of a property investor is likely to be achieved on a property through rent itself. It is basically a percentage figure, which is calculated by taking the yearly rental income of a property and dividing it by the total amount which has been invested in that property. It allows individual investors to make an investment in this particular platform and earn more income.On BSE, Embassy Office Parks REIT on Friday closed at Rs 320.44, down with 4.34 per cent. Embassy Parks is a joint venture between the global investment firm blackstone and realty firm Embassy Group.
Therefore, This method has made life easier for investors so that there will be no hard time investing in them and earning more profit for it.