Mindspace Business Parks REIT IPO

Mindspace Business Parks REIT IPO

Mindspace REIT own a quality office portfolio located in four key office markets of India, namely Mumbai, Hyderabad, Pune and Chennai. Mindspace Madhapur and Mindspace Airoli East are the largest business parks in their respective Portfolio Markets.

As of June 30, 2019, their Portfolio is well diversified with 173 tenants and no single tenant contributed more than 8.7% of their Gross Contracted Rentals out of which approximately 34.8% Rental is from Fortune 500 companies.

Their tenant base comprises a mix of multinational and Indian corporates, including affiliates of Accenture, Qualcomm, BA Continuum, JP Morgan, Amazon, Schlumberger, UBS, Capgemini, Facebook, Barclays and BNY Mellon, as on June 30, 2019.

They have maintained consistently high Occupancy and achieved Committed Occupancy of 97.2%

Mindspace REIT Strengths

  • Diversified and quality tenant base
  • Stable cash flows and strong growth potential.
  • Presence in four key office markets of India
  • Strong Backing by KRC Group
Mindspace Committed Rental & Rental Growth

Company Promoters

Anbee Constructions LLP and Cape Trading LLP are the promoters of the company.

Financial Summary : Mindspace REIT

   Rs. In Cr
 31.03.202031.03.201931.03.2018
Revenue2026.21679.71502.2
Expenses654.4418.3477.3
PAT513.9515.4161.0
    
Profit Growth0%220%-30%

Mindspace REIT IPO Details

IPO Detail
Issue DatesJul 27 – Jul 29, 2020
Issue Size (Fresh Issue) Rs. 1000/- Cr 
Issue Size (Offer for Sale)Rs. 3500/- Cr. 
Face ValueRs. 10/- Per Share
Price BandRs. 274 – 275
Min Market Lot200 Shares
Listing PlatformNSE, BSE 
Min Investment Amt (Retail)Rs. 55,000/-
Max Investment Amt (Retail)Rs. 165,000/-

Mindspace REIT IPO Schedule

Offer Start DateJul 27, 2020
Offer End DateJul 29, 2020
Finalisation of basis of allotmentAug 6, 2020
Initiation of RefundsAug 7, 2020
Credit of shares to Demat A/cAug 7, 2020
Listing DateAug 12, 2020

Mindspace REIT IPO Registrar

Kfin Technologies Pvt Ltd

Selenium, Tower B, Plot No. 31 & 32, Financial District, Nanakramguda, Serilingampally, Hyderabad – 500032, Telangana, India

Phone: +91-40-6716-2222
Email: kraheja.reit@kfintech.com
Website: https://www.kfintech.com

Mindspace REIT IPO Lead Manager(s)

  • Ambit Pvt Ltd
  • Axis Capital Limited
  • BoA Merrill Lynch
  • Citigroup Global Markets India Pvt Ltd
  • CLSA India Pvt Ltd
  • HDFC Bank Ltd
  • ICICI Securities Ltd
  • IDFC Bank Ltd
  • JM Financial Consultants Pvt Ltd
  • Morgan Stanley India Company Pvt Ltd
  • Nomura Financial Advisors & Sec (I) Pvt Ltd
  • UBS Securites India Pvt Ltd

 

Recommendation for Mindspace Business Parks REIT IPO

REIT Companies are already feeling the Heat of COVID as most of IT companies are working from home, this scenario is likely to continue till December and it may affect Revenue and expense ratio of Company.

Investors to this IPO are advised to keep track of subscription figures and decide on the last day, it is not beneficial to risk your capital for smaller gains instead wait for better IPOs in Pipeline.

Disclaimer : Review and recommendation are personal views of author, investors are advised to go their own research and analysis or contact their financial advisor before reaching to any conclusion.

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