CCI approves combination involving setting up of Mindspace REIT by K Raheja Corp

19 Mar 2020 CW Team

The parties to the combination are:
1. Acquirer: Mindspace Business Parks REIT (“Mindspace REIT”)
2. Target Entities: K Raheja IT Park (Hyderabad), Intime Properties, Sundew Properties, Avacado Properties and Trading (India), Gigaplex Estate, KRC Infrastructure and Projects, Horizonview Properties; and Mindspace Business Parks (“Target Entitites”).

Mindspace REIT is set up as a contributory, irrevocable and determinate trust under the provisions of the Indian Trusts Act, 1882, with object and purpose to carry on a real estate investment trust, as permissible under the REIT Regulations, to raise funds through the REIT, to make investments in accordance with the REIT Regulations and the investment strategy and to carry on the activities as may be required for operating the REIT, including incidental and ancillary matters thereto.

The Target Entities are special purpose vehicles (SPVs) and are active in the commercial real estate industry. The business of the Target Entities consists of 10 commercial real estate projects. These commercial real estate projects are a mix of information technology parks, commercial buildings and special economic zone projects located in Mumbai Region, Hyderabad, Pune and Chennai.

The proposed transaction pertains to setting up and listing of a real estate investment trust (REIT) in India. It essentially entails acquisition of certain equity shareholding held by the selling shareholders in the Target Entities by Mindspace REIT, in accordance with the Securities Exchange Board of India (Real Estate Investment Trusts) Regulations, 2014 (REIT Regulations) (Proposed Combination).

The CCI approved the Proposed Combination under Section 31(1) of the Act, as per a release by PIB.

Detailed order of the CCI will follow.

Your next big infra connection is waiting at RAHSTA 2025 – Asia’s Biggest Roads & Highways Expo, Jio World Convention Centre, Mumbai. Don’t miss out!

The Competition Commision of India (CCI) has approved the proposed combination involving setting up of Mindspace REIT (REIT) by K Raheja Corp and acquisition of certain equity shareholding held by selling shareholders in the Target Entities by REIT, under Section 31(1) of the Competition Act, 2002. The parties to the combination are: 1. Acquirer: Mindspace Business Parks REIT (“Mindspace REIT”) 2. Target Entities: K Raheja IT Park (Hyderabad), Intime Properties, Sundew Properties, Avacado Properties and Trading (India), Gigaplex Estate, KRC Infrastructure and Projects, Horizonview Properties; and Mindspace Business Parks (“Target Entitites”). Mindspace REIT is set up as a contributory, irrevocable and determinate trust under the provisions of the Indian Trusts Act, 1882, with object and purpose to carry on a real estate investment trust, as permissible under the REIT Regulations, to raise funds through the REIT, to make investments in accordance with the REIT Regulations and the investment strategy and to carry on the activities as may be required for operating the REIT, including incidental and ancillary matters thereto. The Target Entities are special purpose vehicles (SPVs) and are active in the commercial real estate industry. The business of the Target Entities consists of 10 commercial real estate projects. These commercial real estate projects are a mix of information technology parks, commercial buildings and special economic zone projects located in Mumbai Region, Hyderabad, Pune and Chennai. The proposed transaction pertains to setting up and listing of a real estate investment trust (REIT) in India. It essentially entails acquisition of certain equity shareholding held by the selling shareholders in the Target Entities by Mindspace REIT, in accordance with the Securities Exchange Board of India (Real Estate Investment Trusts) Regulations, 2014 (REIT Regulations) (Proposed Combination). The CCI approved the Proposed Combination under Section 31(1) of the Act, as per a release by PIB. Detailed order of the CCI will follow.

Real Estate

04 Sep 2025

Mumbai Records 11,230 Property Deals in August 2025

Mumbai’s property market remained resilient in August 2025, with 11,230 property registrations recorded under the Brihanmumbai Municipal Corporation (BMC) jurisdiction, according to data released by Knight Frank India. While this marks a 3 per cent year-on-year (YoY) decline compared to 11,631 registrations in August 2024, activity stayed robust despite the marginal dip.On a month-on-month (MoM) basis, registrations fell 11 per cent from 12,579 deals in July 2025, indicating seasonal moderation. However, the city’s stamp duty collections still reached Rs 10 billion, reflecting a 6 per cent..

Infrastructure Transport

04 Sep 2025

68 Jammu-Katra Trains Cancelled Amid Rain Damage

Jammu and Katra railway services remain severely affected as Northern Railway announced the cancellation of 68 trains—both incoming and outgoing—until 30 September, due to extensive track damage caused by heavy rains and flash floods. Meanwhile, 24 trains are scheduled to resume operations gradually.The Jammu railway division has experienced a complete halt in services for the past eight days, following track misalignment and breaches at several points along the Pathankot–Jammu section. Torrential rainfall since 26 August led to widespread flooding and damage, stranding hundreds of passe..

Infrastructure Transport

04 Sep 2025

Bangalore Metro MD Reviews Reach 6 and Phase 2A Progress

Bangalore Metro Rail Corporation Limited (BMRCL) Managing Director, Dr J Ravishankar, IAS, conducted inspections of key metro corridors on 29 and 30 August, reviewing the progress of Reach 6 (Pink Line) and Phase 2A (Blue Line).On 30 August, the inspection covered Reach 6, a 21.39-km corridor stretching from Kalena Agrahara to Nagawara, with 18 stations. This stretch is part of Phase 2 of the Bangalore Metro project. Dr Ravishankar assessed the status of civil works, finishing, track laying, and system integration between Kalena Agrahara and MG Road.Earlier, on 29 August, the MD inspected Phas..