Mindspace Business Parks REIT IPO

Mindspace Business Parks is part of the K Raheja Corp group of company and is the owner of 23 mn sq. ft. of completed grade-A office portfolio located in four key office markets of India including Mumbai. Total portfolio comprises of Leasable Area of 29.5 msf including 1.8 msf of Under Construction Area while balance 4.6 msf comprises of Future Development Area, as of March 31, 2020.

Mindspace Business Parks IPO Detail

Issuer

Mindspace Business Parks REIT

Issue Period: July 27, 2020 to July 29, 2020
Price Band
₹ 274 - 275

Issue Size
₹ 4,500 Cr.

Market Lot
200 Shares

Listing At
NSE,BSE

₹0 Free Equity Delivery
₹20/- For Intraday, F&O, Currencies & Commodities
get started in just 5 Mins

Already an existing customer? - Login Now!

Company Information

Mindspace Reit was settled on November 18, 2019 at Mumbai, Maharashtra, India as a contributory determinate irrevocable trust under the provisions of the Indian Trusts Act, 1882, pursuant to a trust deed dated November 18, 2019. Mindspace REIT was registered with SEBI on December 10, 2019, at Mumbai as a REIT pursuant to the REIT Regulations having registration number IN/REIT/19- 20/0003. Mindspace REIT has been settled by the Sponsors for an initial sum of ₹10,000. CTL and ACL are the sponsors of Mindspace REIT. K Raheja Corp (KRC) Investment Managers LLP (held by Mr. Ravi C. Raheja and Mr. Neel C. Raheja, as the partners) has been appointed as the Manager for Mindspace REIT, and Axis Trustee Services Limited has been appointed as the Trustee to Mindspace REIT.

Key Highlights of Mindspace Business Parks REIT

  • Mumbai Portfolio spread across 4 properties with completed area of 9 msf, under construction area of 1 msf and further development area of 2.1 msf. Hyderabad portfolio spread across 2 properties with completed area of 10.3 msf, under construction area of .3 mfs and further development area of .4 msf.
  • Mumbai portfolio has total area of 12.1 msf (41%), Hyderabad portfolio has total area of 11.5 msf (39%), Pune portfolio has total area of 5 msf (17%) and Chennai portfolio has total area of .8 msf (3%).
  • 85% of gross rental comes from foreign MNC companies like Accenture, Qualcomm, Barclays, JP Morgan, Amazon, UBS, etc.
  • Portfolio assets well diversified across 172 tenants and no tenant dependency of more than 7.7% with committed occupancy of 92% as of March 2020.
  • Average collection for March, April and May are at 97.5% and management expects to collect 1-1.5% more in June month, which is better than other real estate companies.
  • Mindspace’s current in-place rent is at `51.8 psf vs. market rent of `63.5 psf, which gives 22.6% MTM opportunity in near future.
  • Mindspace has stable cash flow with contracted escalations of 10-15% every three years with typical average contract period (WALE) of 5.8 years.

Report from our researchers

What Is Angel Broking's Expert Research Report?

Our internal team of experts coalesces industry insight to prepare a thorough investigative report to give you a detailed understanding of the market. These reports are meticulously prepared to explain to you each and every step the market takes so that you always remain at the top of your investment game.

How to apply for IPO :


- If you are already a client of Angel Broking, apply directly for Mindspace Business Parks REIT IPO, click here.

- If you’re a new investor Open DEMAT Account for free with Angel Broking and build wealth with the best stock choices. Join our 1 million+ family of happy customers.

Start Trading
in 5 MIns
Invest in IPO
on the same day
No Minimum
Brokerage*

Why Angel Broking?

Trading Across Platforms

Get free access to multiple online trading products & track market share prices live. Trade with ease and stay updated with share market news notifications.

Highest Leverage

Get maximum subscription along with highest leverage with us. This makes sure you make the most of your trading day.

Trading Across Platforms

Get free access to multiple online trading products & track market share prices live. Trade with ease and stay updated with share market news notifications.

Dedicated Customer Service Team

Get help wherever you are with our centralized help desk & Pan India presence.Stay connected through Live Chat and SMS.

Wish to know about IPO

Open Your FREE*

Demat Account Now!

Get the link to download the app

Open a Free* Demat Account & Trade Like a Pro

Download Angel Broking App Now

Or Scan below QR Code

to download App

Open an account