PPFAS Mutual Fund has made a significant investment move by substantially increasing its stake in Embassy Office Parks REIT through a large-scale open market acquisition. The mutual fund acquired 5,63,05,901 additional shares on February 24, 2026, marking a notable expansion of its position in India's leading office REIT.

Acquisition Details

The transaction represents a substantial increase in PPFAS Mutual Fund's investment in Embassy Office Parks REIT. The following table summarizes the key acquisition metrics:

Shareholding Changes

The acquisition has resulted in a significant change in PPFAS Mutual Fund's ownership position in the REIT. The shareholding transformation is detailed below:

Regulatory Compliance

PPFAS Asset Management Private Limited, acting as the investment manager to PPFAS Mutual Fund, filed the mandatory disclosure with both the National Stock Exchange of India Limited and BSE Limited. The disclosure was made pursuant to Regulation 29(1) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Ms. Priya Hariani, Chief Compliance Officer and Company Secretary of PPFAS Asset Management Private Limited, signed the regulatory filing. The disclosure confirms that PPFAS Mutual Fund does not belong to the promoter or promoter group of Embassy Office Parks REIT.

Company Capital Structure

Embassy Office Parks REIT maintains a stable capital structure with no changes resulting from this transaction. The REIT's equity share capital remains at Rs. 94,78,93,743, comprising 94,78,93,743 shares with a face value of Re. 1 per share. The total diluted share capital also remains unchanged at the same level, indicating no outstanding convertible instruments or warrants that could affect the ownership percentages.

Embassy Office Parks REIT has announced the approval of Series XVI non-convertible debentures (NCDs) worth ₹1,400 crores by its debenture committee on February 20, 2026. The committee meeting was held to authorize the issuance of non-convertible debentures on a private placement basis as part of the REIT's debt raising initiatives.

NCD Structure and Terms

The approved Series XVI non-convertible debentures comprise specific structural features designed for institutional investors:

The NCDs are listed, rated, secured, redeemable, transferable, and rupee denominated. Each debenture carries a face value of ₹1,00,000, with the total issuance aggregating to ₹1,400 crores.

Fund Utilization Strategy

The proceeds from the Series XVI NCDs will serve dual purposes for Embassy Office Parks REIT's financial management. The funds will be allocated toward repayment of existing debt obligations and capital expenditure requirements of the REIT's Special Purpose Vehicles (SPVs). This strategic approach aims to optimize the debt structure while supporting growth initiatives across the portfolio.

Board Authorization Framework

The current NCD issuance operates under a comprehensive debt raising mandate previously approved by the Board of Directors. The authorization details include:

The debenture committee meeting commenced at 1410 Hrs IST and concluded at 1424 Hrs IST on February 20, 2026, demonstrating efficient decision-making processes within the REIT's governance structure.

Regulatory Compliance

The announcement was made under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, ensuring transparency and regulatory compliance. The communication was addressed to both the National Stock Exchange of India Limited and BSE Limited, maintaining adherence to listing requirements across multiple exchanges.