Mindspace Business Parks REIT has informed the Exchange regarding Disclosure of material issue
Awaiting price reaction for this filing.
Mindspace Business Parks REIT has allotted 60,000 secured, listed, rated, non-cumulative, taxable, redeemable, non-convertible debentures (NCDs) of face value ₹1,00,000 each, aggregating to ₹600 crore. The NCDs were issued on a private placement basis at a coupon rate of 7.20% per annum, payable quarterly, with a tenor of around 4 years and 363 days. Pricing was discovered via the BSE Electronic Book Building platform on May 12, 2025, and the REIT received ₹600.18 crore (a small premium of about ₹17.85 lakh over principal, reflecting accrued interest). This is the first tranche under the ₹1,200 crore fund-raising plan approved by the Executive Committee on April 21, 2025, leaving another ₹600 crore of headroom for future issuances.
The REIT is raising debt at a competitive 7.20% rate, which should help fund growth or refinance existing borrowings without significant dilution for unit holders. The successful book-building and oversubscription pricing suggest healthy investor demand for Mindspace paper, which is mildly positive for the credit profile of the REIT.