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Mindspace ReIT REIT is a book build issue of ₹4,500.00 crores. The issue is a combination of fresh issue of 3.64 crore shares aggregating to ₹1,000.00 crores and offer for sale of 12.73 crore shares aggregating to ₹3,500.00 crores.
Mindspace ReIT REIT bidding started from Jul 27, 2020 and ended on Jul 29, 2020. The allotment for Mindspace ReIT REIT was finalized on Aug 6, 2020. The shares got listed on BSE, NSE on Aug 7, 2020.
Mindspace ReIT REIT price band is set at ₹275.00 per share . The lot size for an application is 200. The minimum amount of investment required by an retail is ₹55,000 (200 shares) (based on upper price).
Ambit Pvt.Ltd. is the book running lead manager and The registrar of the issue (Not declared yet).
Refer to Mindspace ReIT REIT RHP for detailed Information.
| IPO Date | July 27, 2020 to July 29, 2020 |
| Listing Date | August 7, 2020 |
| Issue Price Band | ₹274.00 to ₹275.00 per share |
| Issue Price Final | ₹275.00 per share |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 16,36,36,200 shares (aggregating up to ₹4,500.00 Cr) |
| Fresh Issue | 3,63,63,600 shares (aggregating up to ₹1,000.00 Cr) |
| Offer for Sale | 12,72,72,600 shares of ₹[.] (aggregating up to ₹3,500.00 Cr) |
| Issue Type | Bookbuilding REIT |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 55,66,54,582 shares |
| Share Holding Post Issue | 59,30,18,182 shares |
Mindspace ReIT REIT offers total 16,36,36,200 shares. Out of which 9,20,45,400 (56.25%) allocated to QIB, 3,68,18,200 (22.50%) allocated to QIB (Ex- Anchor), 3,06,81,800 (18.75%) allocated to NII - allocated to RII and 5,52,27,200 (33.75%) allocated to Anchor investors.
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | 9,20,45,400 (56.25%) |
| − Anchor Investor Shares Offered | 5,52,27,200 (33.75%) |
| − QIB (Ex. Anchor) Shares Offered | 3,68,18,200 (22.50%) |
| NII (HNI) Shares Offered | 3,06,81,800 (18.75%) |
| Retail Shares Offered | - |
| Strategic Investor Shares Offered | 4,09,09,000 (25.00%) |
| Total Shares Offered | 16,36,36,200 (100.00%) |
Mindspace ReIT REIT opens on July 27, 2020, and closes on July 29, 2020.
| IPO Open Date | Mon, Jul 27, 2020 |
| IPO Close Date | Wed, Jul 29, 2020 |
| Tentative Allotment | Thu, Aug 6, 2020 |
| Initiation of Refunds | Fri, Aug 7, 2020 |
| Credit of Shares to Demat | Fri, Aug 7, 2020 |
| Tentative Listing Date | Fri, Aug 7, 2020 |
| Cut-off time for UPI mandate confirmation | 5 PM on Wed, Jul 29, 2020 |
Investors can bid for a minimum of 200 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| All Investors | 1 | 200 | ₹55,000 |
Mindspace Business Parks REIT has a quality office portfolio in Mumbai, Hyderabad, Pune and Chennai. The business parks in Mumbai are Mindspace Airoli East Business Park, Mindspace Airoli West Business Park, Paradigm Mindspace Malad and The Square, BKC(2).
The properties in the Pune include Commerzone Yerwada Business Park, Gera Commerzone Kharadi Business Park and The Square, Nagar Road. The Chennai property of the company is Commerzone Porur. And, the office parks in Hydrabad are Commerzone Pocharam and Mindspace Madhapur.
The total leasable area of Mindspace Business Parks are 12.1 msf, 11.6 msf, 5.0 msf and 0.8 msf in Mumbai, Hyderabad, Pune and Chennai, respectively. With total leasable area of 29.5 msf, it is one of the largest Grade-A office portfolios in India.
The under-construction area of the company is 2.8 m sq ft. The future construction of Mindspace Business is spread across Hyderabad, Chennai, and Mumbai in a 3.6 m sq ft area.
Real Estate Investment Trust (REIT) Explained
Under the REIT Regulations Mindspace REIT has to invest a minimum of 80% of the value of its assets in completed and rent and/ or income-generating properties.
REIT Regulations also impose restrictions on certain investments including investments in vacant land, agricultural land, or mortgages other than mortgage-backed securities and assets located outside India.
As per REIT Regulations, the portfolio of the Mindspace REIT is required to be maintained for a period of minimum 3-years from the date of purchase or completion.
Real Estate Investment Trust (REIT) Explained
Competitive Strengths
1. Diversified and quality tenant base
2. Strong industry fundamentals
3. Experienced management team with KRC group support
4. Stable cash flows
| Particulars | For the year/period ended (Rs in Million) | ||||
|---|---|---|---|---|---|
| 31-Mar-20 | 31-Mar-19 | 31-Mar-18 | 31-Mar-17 | ||
| Total Assets | 1,12,224 | 91,437 | 84,738 | 81,293 | |
| Total Revenue | 20,262 | 16,797 | 15,022 | 14,354 | |
| Profit After Tax | 5,139 | 5,154 | 1,610 | 2,313 | |
The proceeds will be utilised towards the following objects:
1. Partial or full pre-payment or scheduled repayment of certain debt facilities of the Asset SPVs availed
from banks/financial institutions (including any accrued interest and any applicable penalties/ premium);
2. Purchase of NCRPS of MBPPL; and
3. General purposes
[Dilip Davda] The first REITs of Embassy Parks have managed to give around 8% distribution rewards so far. But now this sector is set for a litmus taste as amidst COVID-19 pandemic many IT and service industry have opted for Work from Home (WFH) model. Although management claims that such a situation may not continue for long and hoping for revival which will lead to pushing in demand to keep social distancing at the workplace. Thus views on future prospects are divided among masses. Considering RISK FACTORS indicated by the company and prevalent uncertainties, cash surplus - risk savvy investors may consider investment at their own risk. Read detail review...
Net Issue
| Listing Date | August 7, 2020 |
| BSE Script Code | 543217 |
| NSE Symbol | MINDSPACE |
| ISIN | INE0CCU25019 |
| Final Issue Price | ₹275 per share |
| BSE Listing Group | IF (Rolling) |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹275.00 | ₹275.00 |
| Open | ₹304.00 | ₹302.00 |
| Low | ₹299.00 | ₹300.00 |
| High | ₹308.90 | ₹307.20 |
| Last Trade | ₹303.87 | ₹303.70 |
Mindspace Business Parks ReIT
Raheja Tower, Level 8, Block 'G',
C-30, Bandra Kurla Complex,
Mumbai - 400 051
Mumbai, Maharashtra
Phone: +91 2656 4000
Email: reitcompliance@mindspacereit.com
Website: https://www.mindspacereit.com/
Lead Manager Reports
Mindspace ReIT REIT is a main-board REIT of 16,36,36,200 equity shares of the face value of ₹[.] aggregating up to ₹4,500.00 Crores. The issue is priced at . The minimum order quantity is 200.
The REIT opens on July 27, 2020, and closes on July 29, 2020.
is the registrar for the REIT. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Mindspace ReIT REIT using UPI as a payment gateway. Zerodha customers can apply in Mindspace ReIT REIT by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Mindspace ReIT REIT through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Mindspace ReIT REIT opens on July 27, 2020 and closes on July 29, 2020.
Mindspace ReIT REIT lot size is 200, and the minimum amount required for application is ₹55,000.
You can apply in Mindspace ReIT REIT online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Mindspace ReIT REIT will be done on Thursday, August 6, 2020, and the allotted shares will be credited to your demat account by Friday, August 7, 2020. Check the Mindspace ReIT REIT allotment status.
The Mindspace ReIT REIT listing date is on Friday, August 7, 2020.
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