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MUMBAI: Mindspace Business Parks REIT, owned by Okay Raheja group and Blackstone, has fastened a price band of ₹274-275 per share for its upcoming preliminary public providing (IPO), which opens on 27 July, the corporate mentioned on Tuesday.
The IPO closes on 29 July.
The REIT, solely the second within the nation to goal at a public itemizing, plans to boost as much as ₹1,000 crore of recent capital, whereas its proprietor Okay Raheja group and Blackstone will promote models price ₹3,500 crore by means of the IPO, taking the entire dimension of the deal to ₹4,500 crore.
The REIT has already acquired commitments of ₹1,125 crore from strategic traders GIC, Capital Group, Fidelity and Fullerton at the price of ₹275 per unit.
Mindspace Business Parks REIT has a portfolio of 29.5 million sq ft of business properties positioned in main cities reminiscent of Mumbai, Pune, Chennai and Hyderabad, out of which round 24.5 million sq ft space has been constructed.
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