Mindspace Business Parks REIT has informed the Exchange regarding Disclosure of material issue
Awaiting price reaction for this filing.
Mindspace Business Parks REIT has allotted 60,000 non-convertible debentures of face value INR 1,00,000 each, raising INR 600 crores in total on September 15, 2025. The NCDs carry a coupon rate of 7.00% per annum, payable quarterly, and have a 2-year tenor maturing on September 14, 2027. The securities are listed, rated, secured, redeemable, transferable, and taxable, and were allotted via the multiple yield allotment method. The REIT received INR 600.15 crores in consideration, with a small premium of INR 14.75 lakhs over the principal amount. This issuance is part of the REIT's approved borrowing plan of up to INR 2,800 crores, earlier greenlit by the Executive Committee.
The successful raise at a competitive 7% coupon signals strong investor appetite for Mindspace REIT's debt, likely funding portfolio expansion or refinancing without diluting existing unitholders. Short-term impact on unit price is expected to be neutral, as this is a debt instrument rather than equity.