Mindspace Business Parks REIT has informed the Exchange regarding Disclosure of material issue
Awaiting price reaction for this filing.
Mindspace Business Parks REIT has announced the results of its postal ballot conducted via remote e-voting from April 1 to April 24, 2026. All four resolutions were passed with overwhelming majority (over 99.99% in favor). The resolutions approved the acquisition of 100% shareholding in two related-party entities — Sycamore Properties Private Limited and Content Properties Private Limited — along with the preferential issue of REIT units to the shareholders of these two SPVs as consideration. Total valid votes cast stood at 12,48,06,340 units, with public institutions voting 100% in favor and public non-institutions voting about 99.1% in favor. Promoter/promoter group entities (holding 43,17,73,357 units) abstained from voting on all four resolutions as they were interested parties in the related-party transactions.
With unitholder approval secured, the REIT can now proceed with the acquisition of two SPVs and issue new units to the sellers, which will expand the REIT's portfolio but also dilute existing unit-holders and lock in related-party sponsors as significant unitholders. The near-unanimous vote signals strong institutional confidence in the deal, though the preferential issuance may create short-term unit dilution.