Mindspace Business Parks REIT has informed the Exchange regarding Disclosure of material issue
Awaiting price reaction for this filing.
Mindspace Business Parks REIT has completed the acquisition of 100% equity in Sundew Real Estate Private Limited and Pramaan Properties Private Limited, which together own three commercial properties: The Square Avenue 98 (BKC Annex) in Mumbai (~0.15 msf leasable area), Ascent-Worli in Mumbai (~0.45 msf office + 36 residential units), and an office building in Raheja Woods, Pune (~0.11 msf). As consideration, the Allotment Committee approved issuance of 83,13,963 units to Sundew's shareholders and 3,08,45,379 units to Pramaan's shareholders, totalling ~3.92 crore units at Rs. 464.64 per unit. The acquisitions were completed after all required corporate approvals and conditions precedent were satisfied.
The preferential allotment expands Mindspace REIT's portfolio by adding roughly 0.71 msf of office leasable area across prime Mumbai and Pune locations, funded entirely through units rather than cash, which means modest unit dilution for existing unitholders but no additional debt.