Mindspace Business Parks REIT Allots Units Worth ₹1,580.33 Crores to Sponsors in Preferential Issue

Mindspace Business Parks REIT has disclosed the allotment of units worth ₹1,580.33 crores to its sponsors and sponsor group members through a preferential issue. The REIT issued a total of 3.40 crore units as consideration for acquiring equity shareholding and beneficial interest in two private companies.

Unit Allotment Details

The preferential issue was completed on January 9, 2026, with units priced at ₹464.64 each. The issue price was determined in accordance with floor price requirements as per paragraph 10.5A of Chapter 10 of the Master Circular No. SEBI/HO/DDHS-PoD-2/P/CIR/2025/99 dated July 11, 2025. The consideration was provided through a swap arrangement rather than cash payment.

Individual Sponsor Holdings

The disclosure covers unit allotments to several members of the Raheja family and associated entities:

Entity	Units Allotted	Value (₹ Crores)	Post-Allotment Holdings
Ravi C. Raheja (for Ivory Property Trust)	83,13,963	386.30	1.28%
Chandru L. Raheja	48,36,231	224.71	5.78%
Jyoti C. Raheja	43,01,705	199.87	3.46%
Ravi C. Raheja (individual)	25,06,195	116.45	0.92%
Neel C. Raheja	25,06,195	116.45	1.78%

Corporate Entity Allotments

Several Limited Liability Partnerships (LLPs) associated with the sponsor group also received unit allotments:

LLP Entity	Units Allotted	Value (₹ Crores)	Post-Allotment Holdings
Casa Maria Properties LLP	26,50,764	123.17	7.63%
Capstan Trading LLP	26,50,764	123.17	6.75%
Raghukool Estate Development LLP	26,50,764	123.17	6.89%
Palm Shelter Estate Development LLP	26,50,781	123.17	6.75%
Anbee Constructions LLP	30,45,990	141.53	5.93%
Cape Trading LLP	30,45,990	141.53	5.94%

Acquisition Background

The unit issuance serves as consideration for Mindspace REIT's acquisition of equity shareholding and beneficial interest in two companies:

Pramaan Properties Private Limited: Most entities received units as consideration for this acquisition
Sundew Real Estate Private Limited: Specifically related to Ravi C. Raheja's allotment for Ivory Property Trust

The transactions represent strategic acquisitions that expand Mindspace REIT's property portfolio through the incorporation of assets from these private entities.

Regulatory Compliance

The disclosure was made pursuant to Regulation 7(2) of the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015. All disclosures were submitted to the Investment Manager on January 13, 2026, and subsequently filed with stock exchanges on January 15, 2026.

The REIT confirmed that no derivative trading occurred in connection with these transactions, maintaining compliance with insider trading regulations. All documentation has been made available on the REIT's website for investor reference.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+1.10%	-1.93%	+1.01%	+14.04%	+29.81%	+41.07%

Mindspace Business Parks REIT has successfully completed two strategic property acquisitions through preferential allotment of units, as announced on January 9, 2026. The REIT's Allotment Committee approved the issuance of 3,91,59,342 units at ₹464.64 per unit to acquire 100% equity stakes in Sundew Real Estate Private Limited and Pramaan Properties Private Limited.

Acquisition Details and Unit Allotment

The acquisitions were structured through preferential allotment of units to the respective shareholders as consideration for the equity purchases:

Acquisition Target:	Units Allotted	Price per Unit	Total Consideration
Sundew Real Estate	83,13,963 units	₹464.64	₹386.48 crores
Pramaan Properties	3,08,45,379 units	₹464.64	₹1,433.52 crores
Total	3,91,59,342 units	₹464.64	₹1,820.00 crores

Property Portfolio Expansion

The acquisitions add significant commercial real estate assets across Mumbai and Pune markets:

Sundew Properties

The Square Avenue 98 (BKC Annex): Located at Village Kole Kalyan, South Salsette Taluka, Mumbai Suburban District
Current leasable area of approximately 0.15 million square feet
Potential for enhancement to approximately 0.22 million square feet

Pramaan Properties

The acquisition includes two strategic properties:

Property:	Location	Leasable Area	Additional Features
Ascent-Worli	Worli, Mumbai	0.45 msf	36 residential units
Raheja Woods Office	Kalyani Nagar, Pune	0.11 msf	Includes amenity building

Regulatory Compliance and Authorization

The transactions were executed in compliance with Securities and Exchange Board of India (Real Estate Investment Trusts) Regulations, 2014. The allotments followed the provisions of Chapter 10 of the Master Circular No. SEBI/HO/DDHS-PoD-2/P/CIR/2025/99 dated July 11, 2025, which provides guidelines for preferential issue and institutional placement of units by listed REITs.

All necessary conditions precedent were satisfied, including:

Receipt of corporate authorizations
Obtaining required waivers and permits
Securing all regulatory approvals

Strategic Impact

These acquisitions expand Mindspace REIT's footprint in prime commercial locations across Mumbai and Pune. The addition of approximately 0.93 million square feet of leasable area, with potential for further enhancement, strengthens the REIT's portfolio diversification across key metropolitan markets. The inclusion of residential units at Ascent-Worli also adds a rental income component to the portfolio mix.

The transactions were managed by K Raheja Corp Investment Managers Private Limited, acting as the Manager to Mindspace Business Parks REIT, with Bharat Sanghavi serving as Company Secretary and Compliance Officer overseeing the regulatory filings.