Mindspace Business Parks REIT has informed the Exchange regarding Disclosure of material issue
Awaiting price reaction for this filing.
Mindspace Business Parks REIT has submitted a CFO certification confirming the use of proceeds from its commercial paper issue. The CP (ISIN: INE0CCU14062) was issued on February 20, 2025, raising Rs. 491.36 crore (discounted) against a face value of Rs. 500 crore, split across 10,000 units of Rs. 5,00,000 each. The proceeds were used to extend loans to group SPVs for repayment of financial indebtedness, including replenishment of overdrafts and letter of credit facilities. The CP is scheduled to mature on May 16, 2025. The filing is made under RBI and SEBI master circular guidelines requiring disclosure of material utilisation of CP proceeds.
This is a routine regulatory disclosure confirming that short-term commercial paper funds were deployed as intended for debt refinancing within the REIT structure. No new capital raising or material business change is involved, so the impact on the unit price is expected to be neutral.