Mindspace REIT plans to raise up to Rs 450 cr through issue of securities

Mindspace Business Parks REIT on Thursday said the company plan to raise up to Rs 450 crore through the issue of debt securities.

In a regulatory filing, the company informed that the decision will be taken at a meeting on March 9.

"a meeting of the executivecommittee of the manager shall be held on Tuesday, March 9, 2021, to consider and approve raising of funds by Mindspace REIT through the issue of a debt security(ies) aggregating up to Rs 450 cores by way of the private placement," the filing said.

The fund could be raised in one or more tranches.

Mindspace REIT, promoted by K Raheja Corp and Blackstone, got listed on stock exchanges last year after launching a public issue of Rs 4,500 crore.

It owns office portfolios located in four key office markets of India, namely Mumbai Region, Pune, Hyderabad and Chennai.

Mindspace REIT has a total leasable area of 29.5 million square feet. The portfolio consists of five integrated business parks and five quality independent office assets. It has a diversified and high-quality tenant base, with 165+ tenants as of December 31, 2020.