In a strategic financial development, Mindspace Business Parks REIT, managed by K Raheja Corp Investment Managers Private Limited, has received approval from its Executive Committee to raise a significant sum of ₹1200 crore through the issuance of non-convertible debentures (NCDs) and/or commercial papers (CPs). The committee convened on Monday, April 21, 2025, to discuss and approve this capital-raising move.

This decision has been formally disclosed to the National Stock Exchange of India Limited (NSE) and BSE Limited (BSE) in accordance with Regulation 51(2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure includes all relevant updates regarding the nature and structure of the proposed fundraising.

The proposed fund raise will be executed in one or more tranches, series, issuances, or phases, depending on prevailing market conditions and business needs. The maximum aggregate amount to be raised is pegged at ₹1200 crore (Rupees One Thousand Two Hundred Crore only). This amount will be utilized to meet various operational, developmental, or refinancing objectives under the REIT's investment strategy.

The Manager to the REIT, K Raheja Corp Investment Managers Private Limited, formerly known as K Raheja Corp Investment Managers LLP, has been actively involved in steering the financial and strategic direction of Mindspace Business Parks REIT, one of India’s leading commercial real estate investment trusts. Their continued engagement with the capital markets has been evident through structured fund-raising efforts aimed at strengthening the REIT’s portfolio and operational base.

The formal communication regarding this approval was signed by Bharat Sanghavi, the Company Secretary and Compliance Officer of K Raheja Corp Investment Managers. Sanghavi reiterated that this move aligns with the REIT’s financial planning and long-term investment strategy. He confirmed that the resolution passed by the Executive Committee aims at raising funds from time to time, ensuring flexibility and timely execution based on funding requirements.

The company’s registered office is located at Raheja Tower, C-30, Block ‘G’, Bandra Kurla Complex (BKC), Bandra (East), Mumbai – 400051. Mindspace REIT is listed on both BSE (Scrip Code: 543217) and NSE (Symbol: MINDSPACE), and its debt instruments and commercial papers are also actively traded, with multiple scrip codes allocated for different instruments, including 974075, 974668, 974882, 975068, 975537, 975654, 975763, 976198, 727977, and 728816.

This strategic fund-raising effort is expected to enhance liquidity, support ongoing projects, and capitalize on emerging opportunities in the commercial real estate sector. The REIT’s capability to mobilize debt capital through structured instruments like NCDs and CPs reflects investor confidence and robust financial management.

Mindspace Business Parks REIT has consistently positioned itself as a leader in India's real estate investment trust space. Backed by the K Raheja Corp Group, it holds a diversified portfolio of Grade-A office assets spread across key Indian cities such as Mumbai, Pune, Hyderabad, and Chennai. With a sharp focus on sustainability, digital infrastructure, and tenant satisfaction, the REIT has managed to attract marquee tenants including multinational tech companies, financial institutions, and consulting firms.

The capital raised through this initiative will potentially go toward expanding its leasable area, developing new business parks, or refinancing existing liabilities to optimise the capital structure. This flexible and timely access to funds ensures that the REIT remains agile in a highly competitive and evolving market environment.

As the Indian real estate market continues to recover and grow post-pandemic, listed REITs like Mindspace are expected to play a pivotal role in institutionalising commercial real estate investments. The approval to raise ₹1200 crore signals a proactive approach to growth and portfolio strengthening by Mindspace REIT’s management.

Investors and stakeholders can expect further updates as the issuance process unfolds in accordance with market conditions, regulatory approvals, and strategic requirements. This move may also help improve yield and investor returns in the medium to long term by facilitating growth in income-generating assets.

With this development, Mindspace REIT continues to reinforce its position as a reliable and growth-focused REIT committed to delivering value to its unitholders while staying compliant with evolving SEBI norms and capital market practices.

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