Mindspace Business Parks REIT has informed the Exchange regarding Disclosure of material issue
Awaiting price reaction for this filing.
The Board of K Raheja Corp Investment Managers (acting as Manager to Mindspace REIT), at its meeting on November 28, 2025, approved two acquisitions. First, the acquisition of 100% equity in Sundew Real Estate Private Limited, which owns The Square Avenue 98 (BKC Annex) in Mumbai with around 0.16 million sq ft of leasable area (potential to expand to ~0.22 msf), for Rs. 3,863 million. Second, the acquisition of 100% equity in Pramaan Properties Private Limited, which owns the Ascent-Worli office building in Mumbai (~0.45 msf office space plus 36 residential units to be rented out) and an office building at Raheja Woods, Pune (~0.11 msf), for Rs. 14,341 million. Combined deal value is about Rs. 18,204 million (Rs. 1,820 crore). The acquisitions will be largely funded through preferential issue of units — up to 83.14 lakh units to Sundew shareholders and up to 308.65 lakh units to Pramaan shareholders — at Rs. 464.64 per unit. A postal ballot notice will be sent to unitholders for their approval.
The acquisitions expand Mindspace REIT's commercial portfolio by roughly 0.94 million sq ft of leasable area, strengthening its presence in prime Mumbai (BKC, Worli) and Pune micro-markets. Because the deals are largely funded through new units issued to sellers, there will be equity dilution for existing unitholders, and the transactions remain subject to unitholder and regulatory approvals.