Mindspace Business Parks REIT has informed the Exchange regarding Disclosure of material issue
Awaiting price reaction for this filing.
Mindspace Business Parks REIT disclosed unit allotments to 10 sponsors and sponsor group members (including the Raheja family and 6 LLPs) under a preferential issue. Allottees received units as consideration for the REIT acquiring equity stakes in Sycamore Properties Private Limited and Content Properties Private Limited. The issue price was fixed at Rs. 484.89 per unit. Total units allotted range from approximately 9.35 lakh to 21.29 lakh units per entity, with consideration paid entirely via unit swap (non-cash). Holdings increased marginally for all parties — Ravi C. Raheja rose from 0.92% to 1.22%, while the six LLPs each saw increases of 0.01-0.02% in their respective stakes.
Sponsor and sponsor group holdings have increased slightly following the preferential allotment as consideration for acquisitions. The transaction is an all-unit swap with no cash outflow for sponsors and has minimal impact on public float. The acquisitions of Sycamore and Content Properties may expand the REIT's asset base, which could benefit unitholders long-term.