Grey Market News:
As on 30 July 2020
GMP Rs Nil
Kostak Rs Nil
Application Rate : Rs. Nil
As on 29.07.2020 at 6.00pm
QIB 10.61 T
NII 15.51 T
RII [.] T
Total 12.96 T
Short Note about Mindspace Business Parks REIT
Mindspace BPR owns a quality office portfolio located in four key office markets of India. Our Portfolio has Total Leasable Area of 29.5 msf and is one of the largest Grade-A office portfolios in India (Source:C&W Report). Its Portfolio comprises 23.0 msf of Completed Area, 2.8 msf of Under Construction Area and 3.6 msf of Future Development Area, as of March 31, 2020. Its Portfolio has five integrated business parks with superior infrastructure and amenities (such as restaurants, crèches and outdoor sports arenas) and five quality independent offices. Its assets provide a community-based ecosystem and it believes that they have been developed to meet the evolving standards of tenants and the demands of “new age businesses”, which makes them among the preferred options
for both multinational and domestic corporations. Mindspace BPR believes that the scale and quality of its Portfolio has given us a market leading position and replicating a similar portfolio of large-scale, integrated business parks by other players may be challenging due to long development timelines and a lack of similar sized aggregated land parcels in comparable locations. It is committed to tenant service and developing long-standing relationships with its occupiers.
Some of the qualitative factors which form the basis for computing the Offer Price are:
# Portfolio with significant scale;
# Diversified and quality tenant base with long-standing relationships;
# Stable cash flows and strong growth potential;
# Strong industry fundamentals;
# Presence in four key office markets of India; and
# Experienced management team backed by the KRC group.
The promoters of Mindspace Business Parks REIT
Axis Trustee Services Ltd,
Cape Trading LLP &
Anbee Constructions LLP
Main object of Mindspace Business Parks REIT IPO :
1. Partial or full pre-payment of certain debt facilities of the Asset SPVs availed
2. Purchase of NCRPS of MBPPL;
IPO Particulars of Mindspace Business Parks REIT IPO :
IPO Opens on : July 27 2020
IPO Closes on : July 29 2020
Issue Type: Book Built Issue IPO
Issue Size : [.] Eq Shares of ?
(aggregating up to Rs 4,500.00 Cr)
Fresh Issue [.] Eq Shares of ?
(aggregating up to Rs 1,000.00 Cr)
Offer for Sale [.] Eq Shares of ?
(aggregating up to Rs 3,500.00 Cr)
Equity Shares outstanding prior to the Issue = ? Shares
Fresh Issue of 10500000 @? /- = Rs.?Crs
Equity Shares outstanding after the Issue = ? Shares
Face Value per share : Rs. ?
Price Band: Per Equity Share: Rs. 274-275)
Minimum Order Quantity: 200 Shares
Listing will at: BSE,NSE
Minimum 1 Lot 200 Units Rs55,000
Maximum 3 Lot 600 Units Rs 165,000
Shares offered to
QIB : 9.20 Cr Units, Rs. 2531 Crs
RII : 30.07 cr Units , Rs 844 Crs
Total Issue : Rs.4500 Crs.
20 July 2020 – Price Band announced
Offer Opens on 27 July 2020 :
Offer Closes on 29 July 2020
Finalisation of Basis of Allotment : ? July 2020
Unblocking of ASBA : ? July 2020
Credit to Demat Accounts : ? July 2020
Listing on NSE & BSE : ? July 2020
Financial snapshot Mindspace Business Parks REIT IPO
Total Income 1920 Rs. 2026 Cr
Total Income 1819 Rs. 1680 Cr.
PBT 1920 Rs. 745.80 Cr
PBT 1819 Rs. 595.60 Cr.
Net Profit 1920 Rs. 513.90 Cr.
Net Profit 1819 Rs. 515.40 Cr.
Upper Price Band/last EPS: ?
Upper offer price/Book Value Ratio:
Embassy Office Parks REIT NAV Rs. 374.64
discount to NAV 6.38%
Lead Managers of Mindspace Business Parks REIT
Ambit Private Limited
Axis Capital Limited
BoA Merrill Lynch
Citigroup Global Markets India Private Limited
CLSA India Private Limited
HDFC Bank Limited
ICICI Securities Limited
IDFC Bank Limited
JM Financial Consultants Private Limited
Kotak Mahindra Capital Company Limited
Morgan Stanley India Company Pvt Ltd
Nomura Financial Advisory And Securities (India) Pvt Ltd
UBS Securities India Private Limited
Registrar to the IPO :
KFin Technologies Private Limited
Registered Office of Mindspace Business Parks REIT
Mindspace Business Parks
Raheja Tower, Level 8, Block ‘G’,
C-30, Bandra Kurla Complex,
Mumbai – 400 051
Secretary and Compliance Officer