The initial offer of Mindspace Business Parks REIT (“Mindspace REIT”) for cash at a price of price band of Rs. 274 to Rs. 275 per Unit aggregating up to Rs. 45,000 million consisting of a fresh issuance of up to Rs. 10,000 million (“Fresh Issue”) and an offer for sale of up to Rs. 35,000 million (“Offer for Sale” and together with the Fresh Issue, the “Offer” ) will open for subscription on Monday, July 27, 2020.
Anbee Constructions LLP (“ACL”) and Cape Trading LLP (“CTL”) are the Sponsors of the Mindspace Business Parks REIT. Both ACL and CTL form part of the K Raheja Corp Group.
Bids can be made for a minimum of 200 Units and in multiples of 200 Units thereafter by Bidders other than Anchor Investors and Strategic Investors.
Mindspace REIT has been assigned a corporate credit rating of ‘Provisional CCR AAA/Stable’ by CRISIL Limited.
Morgan Stanley India Company Private Limited, Axis Capital Limited, DSP Merrill Lynch Limited, Citigroup Global Markets India Private Limited, JM Financial Limited, Kotak Mahindra Capital Company Limited, CLSA India Private Limited, Nomura Financial Advisory and Securities (India) Private Limited, UBS Securities India Private Limited, Ambit Capital Private Limited, HDFC Bank Limited, IDFC Securities Limited (IDFC Securities Limited is in process of changing its name to DAM Capital Advisors Limited) and ICICI Securities Limited are the Book Running Lead Managers (BRLMs) to the issue.
KFin Technologies Private Limited is the registrar to the offer.
Institutional Investor Portion : Not More than 75% of the Offer (excluding the Strategic Investor Portion)
Non-Institutional Investor Portion: Not less than 25% of the Offer (excluding the Strategic Investor Portion)
The issue closes for subscription on Wednesday, July 29, 2020.
The assets owned by the REIT has total leasable are of 29.5 msf. The below are the cities where the REIT has properties:
Mumbai Region – 41.1%
Hyderabad – 39.3%
Pune – 16.9%
Chennai – 2.7%
The portfolio of REIT includes:
Mumbai:
– Mindspace Airoli East
– Mindspace Airoli West
– Paradigm Mindspace Malad
– The Square, BKC
Hyderabad:
– Mindspace Madhapur
– Mindspace Pocharam
Pune:
– Commerzone Yerwada
– The Square, Nagar Road
– Gera Commerzone Kharadi
Chennai:
– Commerzone, Porur
