On December 20, Blackstone sold all of their 23.6% ownership in the Embassy REIT, completely ending their investment in it. Embassy Office Parks REIT witnessed a change in hands of 22.36 crore shares, or 23.6% equity, worth ₹7,148 crore, at ₹319.65 per share.
This sale significantly increased the number of freely available shares in the stock. It’s important to note that this stock is part of the FTSE All World and All Cap Indices. Because of this sale, the stock’s weight in these indices needed adjustment by the exchanges.
In today’s trading session, during the last hour of trading, there have been inflows of around $25 million into the stock. In that final hour, the stock gained momentum with good trading volumes. This $25 million increase in weight is a result of the higher free float caused by the recent block deal where Blackstone sold its entire stake in the stock.
REIT, a popular instrument globally, was introduced in India…
