Mindspace Business Parks REIT has informed the Exchange regarding Disclosure of material issue
Awaiting price reaction for this filing.
The Executive Committee of the Board of Directors of K Raheja Corp Investment Managers Private Limited, acting as the Manager to Mindspace Business Parks REIT, has approved raising funds through the issuance of non-convertible debt securities and/or commercial papers. The approval covers an aggregate amount not exceeding INR 1,57,000 Million (₹15,700 crore), net of repayments, including outstanding indebtedness, to be raised in one or more tranches, series, issuances, or phases. The raise is subject to a leverage condition that consolidated borrowings and deferred payments of Mindspace REIT and its HoldCo/Asset SPVs, net of cash and cash equivalents, shall not exceed 33% of the total value of assets.
The fund-raising approval gives Mindspace REIT flexibility to borrow up to ₹15,700 crore for growth, acquisitions, or refinancing, while staying within a regulated 33% asset-level leverage cap. This is a routine REIT financing move that could dilute unit holder returns in the short term if debt costs are high but supports long-term portfolio expansion.