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Business News/ Markets / Stock Markets/  Mindspace REIT sets IPO price band at 274-275
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Mindspace REIT sets IPO price band at ₹274-275

The REIT, only the second in the country to aim at a public listing, plans to raise up to ₹1,000 crore of fresh capital, while its owner K Raheja group and Blackstone will sell units worth ₹3,500 crore through the IPO, taking the total size of the deal to ₹4,500 crore

Mindspace Business Parks REIT IPO opens on 27 July and closes on 29 July. Photo: iStockPremium
Mindspace Business Parks REIT IPO opens on 27 July and closes on 29 July. Photo: iStock

MUMBAI: Mindspace Business Parks REIT, owned by K Raheja group and Blackstone, has fixed a price band of 274-275 per share for its upcoming initial public offering (IPO), which opens on 27 July, the company said on Tuesday.

The IPO closes on 29 July.

The REIT, only the second in the country to aim at a public listing, plans to raise up to 1,000 crore of fresh capital, while its owner K Raheja group and Blackstone will sell units worth 3,500 crore through the IPO, taking the total size of the deal to 4,500 crore.

The REIT has already received commitments of 1,125 crore from strategic investors GIC, Capital Group, Fidelity and Fullerton at the price of 275 per unit.

Mindspace Business Parks REIT has a portfolio of 29.5 million sq ft of commercial properties located in major cities such as Mumbai, Pune, Chennai and Hyderabad, out of which around 24.5 million sq ft area has been constructed.

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ABOUT THE AUTHOR
Swaraj Singh Dhanjal
" Based in Mumbai, Swaraj Singh Dhanjal is responsible for Mint’s corporate news coverage. For the past eight years he has been writing on the biggest deals in private equity, venture capital, IPO market and corporate mergers and acquisitions. An engineer and an MBA, he started his journalism career in 2014 with Mint. "
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Published: 21 Jul 2020, 10:23 AM IST
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