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Mindspace REIT plans to raise $599 million through IPO to pay debt

The real estate investment trust will offer about Rs 1,000 crore of new shares while the founders will offer the remaining

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Mindspace Business Park’s portfolio comprises 23 million square feet of completed area and 2.8 million square feet of under construction, across Mumbai, Hyderabad, Pune and Chennai

Bloomberg

2 min read Last Updated : Jul 17 2020 | 10:15 PM IST

Mindspace Business Parks REIT, an Indian operator of office complexes backed by Blackstone Group, plans to raise as much as Rs 4,500 crore ($599 million) in an initial public offering and use the proceeds to pay debt.

The real estate investment trust, which also counts K Raheja Corp, a Mumbai-based real estate developer, as a sponsor, will offer about Rs 1,000 crore of new shares while the founders will offer the remaining, according to a draft prospectus filed with India’s securities regulator.

India’s S&P BSE Sensex index has jumped about 40 per cent since Prime Minister Narendra Modi first ordered people to

Topics : REIT Blackstone Group initial public offerings IPOs

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