Blackstone plans mega $833 million exit from Embassy Office Parks REIT

Blackstone plans to exit Embassy Office Parks REIT, India's first publicly traded real estate investment trust, through a mega block deal of $833 million, multiple industry executives familiar with the development told Moneycontrol.

"They (Blackstone) intend to sell their entire stake of 23.6 percent in the firm via the block deal route," one of the people said.

"The floor price is Rs 310 per share. Kotak Mahindra Capital and IIFL Capital are the advisors for this proposed big trade," a second person said.

Both the persons spoke to Moneycontrol on the condition of anonymity.