Mindspace Business Parks REIT IPO(Mindspace REIT IPO) Detail

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Mindspace Business Parks REIT IPO(Mindspace REIT IPO) Detail

Mindspace Business Parks REIT
Mindspace Business Parks REIT IPO

ABOUT THE COMPANY:

Mindspace Business Parks REIT owns a high-quality commercial space portfolio in the country that rents out space to MNCs. And as India’s demographics and other factors have been favorable there has been a huge demand from both domestic giants as well as MNCs for office space.

The properties in the Pune include Commerzone Yerwada Business Park, Gera Commerzone Kharadi Business Park and The Square, Nagar Road. The Chennai property of the company is Commerzone Porur. And, the office parks in Hydrabad are Commerzone Pocharam and Mindspace Madhapur.

The total leasable area of Mindspace Business Parks are 12.1 msf, 11.6 msf, 5.0 msf and 0.8 msf in Mumbai, Hyderabad, Pune and Chennai, respectively. With total leasable area of 29.5 msf, it is one of the largest Grade-A office portfolios in India.

The under-construction area of the company is 2.8 m sq ft. The future construction of Mindspace Business is spread across Hyderabad, Chennai, and Mumbai in a 3.6 m sq ft area.

The Total Market Value of the Portfolio, which comprises Market Value of the Portfolio and the facility management division, as of March 31, 2020, as per the Valuer, is Rs.23675.1 crores ($3.15 billion).

Company’s Sponsors are

(1)Anbee Constructions LLP and

(2)Cape Trading LLP,

which form part of the KRC (K Raheja Corp) group, which is one of the leading and reputed real estate developers in India with significant experience and knowledge of undertaking large-scale real estate developments across India.

Objectives of Mindspace Business Parks REIT IPO:

(1). Partial or full pre-payment or scheduled repayment of certain debt facilities of the Asset SPVs availed
from banks/financial institutions (including any accrued interest and any applicable penalties/ premium);
(2). Purchase of NCRPS of MBPPL; and
(3). General purposes

Financials of Mindspace Business Parks REIT:

(in Crores) FY 18 FY 19 FY 20
Revenue 1502.2 1679.7 2026.2
Net Profit 161.0 515.4

 

Promoters of Mindspace Business Parks REIT:

(1)Cape Trading LLP and

(2)Anbee Constructions LLP

IPO DETAILS OF Mindspace Business Parks REIT:

Details Info
Issue Opens on 27th July 2020
Issue Closes on:. 29th July 2020
Issue Price Rs.274 – 275
Minimum Lot 200
Minimmum Amount Rs.55000
Market Cap Rs.24000 cr
Listing at NSE & BSE

 

Mindspace REIT IPO important  Dates:

Bid/Offer Opens On Jul 27, 2020
Bid/Offer Closes On Jul 29, 2020
Finalisation of Basis of Allotment Aug 6, 2020
Initiation of Refunds Aug 7, 2020
Credit of Shares to Demat Acct Aug 7, 2020
IPO Shares Listing Date Aug 12, 2020

 

Company Contact Information

Mindspace Business Parks
Raheja Tower, Level 8, Block ‘G’,
C-30, Bandra Kurla Complex,
Mumbai – 400 051

Phone: +91 2656 4000
Email: reitcompliance@mindspacereit.com
Website: https://www.mindspacereit.com/

Mindspace REIT Registrar

KFin Technologies Private Limited
Selenium, Tower B, Plot No. 31 & 32
Financial District, Nanakramguda, Serilingampally,
Hyderabad 500 032, Rangareddi Telangana, India

Phone: +91 40 6716 2222
Email: kraheja.reit@kfintech.com
Website: http://www.kfintech.com

Mindspace REIT Lead Manager(s)

  1. Ambit Private Limited
  2. Axis Capital Limited
  3. BoA Merrill Lynch
  4. Citigroup Global Markets India Private Limited
  5. CLSA India Private Limited
  6. HDFC Bank Limited
  7. ICICI Securities Limited
  8. IDFC Bank Limited
  9. JM Financial Consultants Private Limited
  10. Kotak Mahindra Capital Company Limited
  11. Morgan Stanley India Company Pvt Ltd
  12. Nomura Financial Advisory And Securities (India) Pvt Ltd
  13. UBS Securities India Private Limited

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