Mindspace Business Parks REIT has a quality office portfolio in Mumbai, Hyderabad, Pune and Chennai. The business parks in Mumbai are Mindspace Airoli East Business Park, Mindspace Airoli West Business Park, Paradigm Mindspace Malad and The Square, BKC(2).
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.
Real Estate Investment Trust (REIT) Explained
Under the REIT Regulations Mindspace REIT has to invest a minimum of 80% of the value of its assets in completed and rent and/ or income-generating properties.
REIT Regulations also impose restrictions on certain investments including investments in vacant land and agricultural land or mortgages other than mortgage-backed securities and assets located outside India.
As per REIT Regulations, the portfolio of the Mindspace REIT is required to be maintained for a period of minimum 3-years from the date of purchase or completion.
Competitive Strengths
- Diversified and quality tenant base.
- Strong industry fundamentals.
- Experienced management team with KRC group support.
- Stable cash flows.
Mindspace REIT Details
| Issue Type | Book Built Issue REIT |
| Face Value | ₹ per equity share |
| IPO Price | ₹274 to ₹275 per equity share |
| Market Lot | 200 Shares |
| Min Order Quantity | 200 Shares |
| Listing At | BSE, NSE |
| BSE Script Code | 543217 |
| NSE Symbol | MINDSPACE |
| ISIN | INE0CCU25019 |
| Issue Size | Aggregating up to ₹4,500.00 Cr |
| Fresh Issue | Aggregating up to ₹1,000.00 Cr |
| Offer for Sale | Aggregating up to ₹3,500.00 Cr |
Mindspace REIT Tentative Timetable
| PARTICULAR | DATE |
| IPO Open Date | 27-Jul-20 |
| IPO Close Date | 29-Jul-20 |
| Basis of Allotment Date | 6-Aug-20 |
| IPO Listing Date | 12-Aug-20 |
Mindspace REIT Lot Size
| Application | Lots | Shares | Amount (Cut-off) |
| Minimum | 1 | 200 | ₹55,000 |
| Maximum |
IPO Allotment Status
Please Click Hare To Click IPO Allotment Status For Mindspace Business Parks REIT
Company Financials:
| PARTICULAR | 31-Mar-20 | 31-Mar-19 | 31-Mar-18 | 31-Mar-17 |
| Total Assets | 1,12,224 | 91,437 | 84,738 | 81,293 |
| Total Revenue | 20,262 | 16,797 | 15,022 | 14,354 |
| Profit After Tax | 5,139 | 5,154 | 1,610 | 2,313 |
Company Promoters:
Cape Trading LLP and Anbee Constructions LLP are the promoters of the company.
Registrar & Company Details
| Company Contact Information | Mindspace REIT Registrar |
| 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/ | KFintech Private Limited Selenium Building, Tower-B, Plot No 31 & 32, Financial District,Nanakramguda, Serilingampally, Rangareddi, Telangana India – 500 032. Phone: 1-800-3454001 Email: mtar.ipo@kfintech.com Website: https://karisma.kfintech.com/ |
