InvestorQ : Why is Embassy REITs raising funds through NCDs?
Aashna Tripathi made post

Why is Embassy REITs raising funds through NCDs?

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Aditi Sharma answered.
6 months ago
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Embassy Office Parks REITs, which had listed in mid-2019 as India’s first REITs, approved an NCD issue of Rs.2600 crore. These non-convertible debentures would be issued on a private place basis. The purpose of the NCD is to fund the acquisition of Embassy Tech Village; a high end commercial project in Bengaluru. Embassy will issue 26,000 NCDs of Rs.10 lakhs each aggregating to Rs.2600 crore.

The board approval is for raising up to Rs.3641 crore via NCDs through one or more tranches. It will be used to refinance the existing debt.

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