Mindspace Business Parks REIT approves ₹500 crore NCD allotment
Aug 24,2026
Key Highlights
Mindspace Business Parks REIT approved allotment of ₹500 crore in non-convertible debentures
Securities carry a coupon rate of 7.6335% per annum payable quarterly
Tenor is 2 years, 1 month, and 2 days with final redemption on September 26, 2028
Issuance complies with SEBI REIT regulations and maintains net debt below ₹1,71,000 million limit
Mindspace Business Parks REIT approved the allotment of ₹500 crore in non-convertible debentures on August 24, 2026. The Executive Committee of K Raheja Corp Investment Managers Private Limited, acting as manager, sanctioned the issuance to raise funds for the real estate investment trust.
The deal involves 50,000 listed, rated, unsecured, redeemable, transferable, taxable, non-cumulative non-convertible debentures. Each debenture has a face value of ₹1 lakh. The principal amount aggregates to ₹500 crore. The securities carry a coupon rate of 7.6335% per annum, payable quarterly.
Deal Structure and Maturity
The tenor for these debt securities is 2 years, 1 month, and 2 days. The final redemption date is set for September 26, 2028. This issuance follows an earlier intimation dated July 9, 2026, where the manager approved raising funds through non-convertible debt securities or commercial papers.
|
Metric |
Details |
|
Instrument |
Non-Convertible Debentures |
|
Amount Allotted |
₹500 crore |
|
Coupon Rate |
7.6335% per annum |
|
Tenor |
2 years, 1 month, 2 days |
|
Redemption Date |
September 26, 2028 |
|
Face Value |
₹1 lakh each |
Regulatory Compliance and Debt Limits
The approval adheres to the Securities and Exchange Board of India (Real Estate Investment Trusts) Regulations, 2014, and the SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021. It also complies with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The issuance is subject to specific debt covenants. The net debt, adjusted for minority interest, for Mindspace REIT and its HoldCo/Asset SPVs must not exceed ₹1,71,000 million. Furthermore, aggregate consolidated borrowings and deferred payments, net of cash and cash equivalents, shall not exceed 33% of the value of total assets of Mindspace Business Parks REIT together with its HoldCo/Asset SPVs.
Historical Stock Returns for Mindspace Business Parks REIT
1 Day 5 Days 1 Month 6 Months 1 Year 5 Years
+0.45% +0.27% +1.21% +7.77% +17.75% +71.25%