This would be the second REIT to hit the IPO market after Embassy Office Park REIT that launched its Rs4,750cr IPO in March 2019.
The total offer size of the Mindspace REIT IPO is Rs4,500cr. Out of this Rs1,000cr will be by way of fresh issue while the balance Rs3,500cr will be by way of Offer-for-sale (OFS). The company, which is launching India's second Real Estate Investment Trust (REIT), has raised Rs1,518.74cr from anchor investors and Rs1,125cr from strategic investors, taking the total proceeds to Rs2,644cr.
The Mindspace REIT on Friday has raised Rs2,644cr from the anchor and strategic investors, with HSBC Global, Fidelity and Nomura Trust, Capital Income Builder and Cohen & Steers as among major investors.
The REIT is sponsored by K Raheja Corporation (KRC) which will have a 65% holding in the REIT post the IPO. Blackstone will hold another 10% of the post IPO capital. The IPO process will commence with the anchor issue placement on July 24.
In a regulatory filing late Friday, Mindspace said the REIT Offer Committee of the governing board of K Raheja Corp Investment Managers LLP finalised allocation of 5,52,27,200 units at Rs 275 per unit to anchor investors.
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