BackMindspace REIT board meets today, likely to approve ₹450 cr fundraising plan
Mindspace Business Parks REIT on Tuesday said the executive committee of the manager of the company will meet today to discuss and approve a plan to raise up to ₹450 crore through the issue of debt securities
PremiumNEW DELHI : Mindspace Business Parks REIT on Tuesday said the executive committee of the manager of the company will meet today to discuss and approve a plan to raise up to ₹450 crore through the issue of debt securities.
In a regulatory filing, the company informed that “A meeting of Executive Committee of the Manager shall be held on Tuesday, March 09, 2021, through audio-visual electronic communication, inter-alia, to consider and approve raising of funds by Mindspace REIT through issue of debt security(ies) aggregating upto ₹450 cores by way of private placement, in one or more tranches/series/issuances/phases."
The fund could be raised in one or more tranches, the company said.
Mindspace REIT, promoted by K Raheja Corp and Blackstone, got listed on stock exchanges last year after launching a public issue of ₹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.
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