Bengaluru, (Karnataka) [India], June 30 (ANI): Embassy Office Parks, India's first listed real estate investment trust (REIT) and the largest in Asia by area, said on Wednesday that trading lot size for Embassy REIT units on stock exchanges will be reduced to one unit from the current trading lot size of 200 units.

The announcement follows the Securities and Exchanges Board of India's approval of amendments to appropriate regulations to reduce trading lots for both REITs and infrastructure trusts (InVITs).

Michael Holland, Chief Executive Officer of Embassy REIT, said the trust's listing in 2019 coupled with strong and resilient performance over the eight quarters has paved the way for Indian REITs to evolve a mainstream asset class.

With about two billion dollars of primary REIT equity having listed in India in the last two years, leading global and domestic asset managers and growing numbers of retail holders now form the foundation of REIT unit-holder registers, he said.

"The reduction in lot size will increase liquidity for the entire REIT market, enable REITs to be included into benchmark domestic indices and allow greater participation from newer pools of institutional and retail investors," said Holland.

The timing and effect of reduction in lot size will be decided in due course, post appropriate coordination with Indian stock exchanges.

Embassy REIT owns and operates a 42.4 million square feet portfolio of eight infrastructure-like office parks and four city-centre office buildings in office markets of Bengaluru, Mumbai, Pune and the National Capital Region.

The is home to over 190 of the world's leading companies. It also comprises strategic amenities including two operational business hotels, four under-construction hotels and a 100 MW solar park supplying renewable energy to tenants. (ANI)

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