Embassy Office Parks REIT , India's first listed REIT and the largest office REIT in Asia by area, has successfully raised ₹1,400 crores through its Series XVI Non-Convertible Debenture issuance. The 10-year NCD was priced at an attractive fixed coupon of 7.49% and was fully subscribed by one of the largest life insurance companies in India, demonstrating strong institutional confidence in the REIT's credit quality and long-term strategy.

Transaction Structure and Subscription Details

The Series XVI Debentures comprise 1,40,000 units with a face value of ₹1,00,000 each, issued through private placement. The Debenture Committee of the Board of Directors approved the allotment, with the coupon rate discovered through BSE Limited's Electronic Book Building Platform using a multiple yield allotment method.

Management Commentary and Strategic Impact

Amit Shetty, Chief Executive Officer of Embassy REIT, highlighted the significance of this fundraising achievement. The transaction enables the REIT to lock in an attractive fixed coupon of 7.49% for a 10-year period as part of their broader capital-raising strategy to increase the average duration of their debt stack while market conditions remain favorable.

Annual Fundraising Milestone

This latest debenture issue marks Embassy REIT's second 10-year debt issuance within FY2026, contributing to a total fundraising of ₹3,400 crores of 10-year NCDs during the financial year. The achievement effectively doubles the duration of the REIT's fixed rate debt book, highlighting the organization's ability to consistently access long-term capital at competitive rates.

Regulatory Compliance and Market Position

The Series XVI Debentures are proposed to be listed on the Wholesale Debt Market Segment of BSE Limited. These securities are listed, rated, secured, redeemable, transferable, and rupee-denominated non-convertible debentures. The NCD investor base across insurance and pension sectors has expanded to over 23 institutional investors, reflecting strong alignment with long-tenor investment requirements and Embassy REIT's position as a preferred investment vehicle in the commercial real estate sector.

Embassy Office Parks REIT has successfully completed its acquisition of Eleanor Realty Holdings India Private Limited for ₹8,520 million, marking another strategic expansion in Bengaluru's premium office market. The transaction, announced on March 03, 2026, involves the acquisition of the Pinhurst building, a marquee office property located within Embassy Golf Links Business Park.

Transaction Overview

The acquisition represents a significant value-accretive transaction for Embassy REIT, executed at a discount to independent valuations. The deal strengthens the company's position as India's first listed REIT and the largest office REIT in Asia by area.

Strategic Benefits

The acquisition delivers multiple strategic advantages for Embassy REIT and its unitholders. The transaction is both Distribution per Unit (DPU) and Net Operating Income (NOI) accretive, enhancing the overall portfolio performance. The premium Grade-A asset provides long-term income visibility through its full occupancy by a leading global investment firm.

Amit Shetty, Chief Executive Officer of Embassy REIT, emphasized the transaction's alignment with the company's disciplined capital allocation strategy. The acquisition reinforces Embassy REIT's presence in Bengaluru's best-performing office corridor while delivering stable cash flows through a fully leased asset.

Market Position Enhancement

This third-party acquisition further consolidates Embassy REIT's ownership in one of Bengaluru's most sought-after office micro-markets. Embassy Golf Links Business Park represents one of India's most premier office ecosystems, making this acquisition strategically valuable for long-term portfolio growth.

The transaction was supported by a comprehensive advisory team, with PwC serving as financial and tax due diligence advisor, Trilegal handling title diligence, and S&R Associates providing legal advisory services to Embassy REIT.

Portfolio Expansion

With this acquisition, Embassy REIT continues to expand its portfolio of world-class office spaces across India's key gateway markets. The company currently owns and operates over 50 million square feet of office space across Bengaluru, Mumbai, Pune, the National Capital Region, and Chennai, comprising 14 premium office ecosystems serving approximately 280 leading global and domestic corporations.