MUMBAI : Mindspace Business Parks REIT, which is backed by real estate developer K. Raheja Corp. and private equity investor Blackstone, on Tuesday filed the draft prospectus for its initial public offering (IPO), making it the second REIT to attempt a listing on the Indian bourses. In March, Bengaluru-based developer Embassy and Blackstone had launched India’s first public REIT, Embassy Office Parks REIT, in a ₹4,750-crore IPO. The REIT will use the IPO proceeds for partial or full prepayment, or scheduled repayment, of certain debt facilities of the assets held by it. According to the prospectus, the Mindspace REIT has a portfolio of commercial properties with a total leasable area of 29.5 million sq. The Mindspace REIT portfolio is located in four key office markets—Mumbai Region, Hyderabad, Pune and Chennai.

Source: Mint December 31, 2019 13:03 UTC