Mindspace Business Parks REIT has informed the Exchange regarding Disclosure of material issue
Awaiting price reaction for this filing.
Mindspace Business Parks REIT's Executive Committee has approved a plan to raise up to INR 1,65,000 million (INR 1.65 lakh crore) through the issuance of non-convertible debt securities and/or commercial papers. The funds can be raised in one or more tranches, series, or phases. The borrowing is subject to a leverage cap where consolidated borrowings and deferred payments of the REIT and its HoldCo/Asset SPVs cannot exceed 33% of the total value of assets. This is a standard board-level authorization for future debt issuance and does not commit to an immediate drawdown.
The filing represents a pre-approved borrowing limit rather than an actual debt raise. It gives the REIT flexibility to access capital markets when needed, which could support portfolio growth but may lead to dilution of unit holder value if debt is deployed aggressively.