Embassy Office Parks REIT, India’s first listed REIT and the largest office REIT in Asia by area, has announced that it has raised ₹1,000 crores through the issuance of three-year floating-rate Non-Convertible Debentures (NCDs), fully subscribed by a leading European multinational bank.

The transaction marks the first financing by a scheduled commercial bank to an Indian REIT at the trust level, following the Reserve Bank of India’s landmark framework announced in June 2026 permitting commercial banks to finance REITs. The NCDs have been priced at a spread of 150 basis points over the agreed three-month MIBOR OIS benchmark, translating into an initial coupon of 6.97%.

Amit Shetty, Chief Executive Officer of Embassy REIT, said, “This ₹1,000 crore fundraise is a significant milestone for Embassy REIT and for the evolution of India’s REIT market. Continued regulatory support from SEBI and RBI has strengthened access to long-term funding for REITs. This new framework opens an important source of institutional capital that complements traditional capital market funding and further deepens the financing ecosystem. As India’s first listed REIT, we are pleased to once again lead the way with the first bank financing at the trust level. This landmark transaction reflects the strength of our balance sheet, the quality of our portfolio, and reinforces Embassy REIT’s position as the strongest credit in Indian real estate.”

Transaction Highlights