Mindspace REIT to raise Rs 500 crore by way of private placement, ET RealEstate

August 29, 2023

NEW DELHI: The executive committee meeting of K Raheja Corp Investment Managers, manager to Mindspace Business Parks REIT (Mindspace REIT) have approved the raising of Rs 500 crore be way of private placement, the company said in a BSE filing.

“… the executive committee have approved raising funds by Mindspace REIT through issue of upto 50,000 listed, rated, secured, non-cumulative, taxable, transferable, redeemable non-convertible debentures of a nominal value of Rs one lakh each for an aggregate principal amount of up to Rs 500 crore by way of private placement in one or more tranches/series/issuances/phases.”

The company had reported a growth of 6.62 per cent in its net consolidated profit during the quarter ended June 30, 2023. Its profit after tax stood at Rs 136.90 crore in Q1 FY24 as against Rs 128.40 crore it registered in the corresponding quarter of the previous fiscal.

Its net consolidated total income stood at Rs 601.70 crore in Q1 FY24, a growth of 24.01 per cent from Rs 485.20 crore it recorded in the similar quarter last year.

  • Published On Aug 29, 2023 at 05:00 PM IST

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