Mindspace REIT to raise Rs 500 crore by private placement

K Raheja Corp Investment Managers, manager of Mindspace Business Parks REIT (Mindspace REIT), announced in a BSE filing that the executive committee meeting had approved funding Rs 500 crore through a private placement. The issue of up to 50,000 listed, rated, secured, non-cumulative, taxable, transferable, redeemable, non-convertible debentures with a nominal value of Rs. 1 lakh each for an aggregate principal amount of up to Rs. 500 crores through private placement in one or more tranches/series/issuances/phases has been approved by the executive committee as a means of raising funds by Mindspace REIT. The company's net consolidated profit increased by 6.62% in the three months ending June 30, 2023. Its profit after tax increased from Rs 128.40 crore in the first quarter of the previous fiscal year to Rs 136.90 crore in the first quarter of FY24.