Mindspace Business Parks REIT has successfully concluded its postal ballot process, with unitholders approving preferential issue of units to facilitate the acquisition of two strategic properties. Following the approval, the REIT has issued clarifications regarding mathematical errors in the original postal ballot notice dated November 28, 2025.

Postal Ballot Results

The remote e-voting period ran from November 29, 2025, to December 28, 2025, with Mr. Rupesh Aggarwal of Chandrasekaran Associates serving as the scrutinizer. The voting results showed overwhelming support from unitholders:

Clarifications on Postal Ballot Notice

On January 07, 2026, Mindspace REIT issued clarifications regarding inadvertent mathematical errors in the postal ballot notice. The corrections include:

The REIT emphasized that these corrections do not impact the resolutions passed or the outcome of the postal ballot process.

Approved Acquisitions

The approved resolutions enable Mindspace REIT to proceed with the acquisition of two companies through preferential unit issuance:

Pramaan Properties Private Limited

100% shareholding acquisition includes:

• Ascent-Worli, Mumbai: Approximately 0.45 msf leasable area plus 36 residential units for rental
• Raheja Woods, Kalyani Nagar, Pune: Approximately 0.11 msf leasable area including amenity building

Sundew Real Estate Private Limited

100% shareholding acquisition includes:

• The Square Avenue 98 (BKC Annex): Located in Village Kole Kalyan, Mumbai Suburban District
• Current leasable area: Approximately 0.16 msf
• Enhanced potential: Approximately 0.22 msf leasable area

Voting Pattern Analysis

The voting results revealed strong institutional support, with public institutions showing 100% approval for both resolutions:

Strategic Impact

The approved acquisitions will add approximately 0.72 msf of leasable area to Mindspace REIT's portfolio, strengthening its presence in key markets of Mumbai and Pune. The preferential issue structure allows the REIT to complete these strategic acquisitions while maintaining its growth trajectory in India's commercial real estate sector. The clarification was signed by Bharat Sanghavi, Company Secretary and Compliance Officer, on behalf of K Raheja Corp Investment Managers Private Limited, acting as the Manager to Mindspace Business Parks REIT.

Sponsor Group of Mindspace Business Parks REIT Executes Encumbrance Transactions

Mindspace Business Parks REIT has reported recent encumbrance transactions executed by its sponsor and sponsor group members. These transactions involve the release and creation of encumbrances on units in the REIT.

Key Details of the Transactions

1. Transaction Period:

   • The encumbrance releases and creations were executed between November 25-26, 2025

2. Entities Involved:

   • Sponsor and sponsor group members, including:
     • Chandru L. Raheja
     • Anbee Constructions LLP
     • Capstan Trading LLP
     • Other sponsor group members

3. Lenders:

   • HDFC Bank Limited
   • Bajaj Housing Finance Limited

4. Security Trustee:

   • IDBI Trusteeship Services Limited

5. Encumbrance Duration:

   • Encumbrances created until December 31, 2040

Significance of Encumbrance Transactions

Encumbrance transactions by sponsor and sponsor group members can be significant for investors as they may indicate:

1. Changes in the financial arrangements of key stakeholders
2. Potential shifts in unit holding patterns within the REIT
3. Long-term commitments and financial strategies of sponsor group entities

Investors and market analysts often monitor such transactions closely to understand the financial dynamics and commitments of sponsor group entities.

Conclusion

The recent encumbrance releases and creations represent a restructuring of unit encumbrances among the sponsor and sponsor group members of Mindspace Business Parks REIT. The involvement of multiple entities and lenders suggests a significant financial arrangement. Investors may want to keep an eye on future encumbrance-related activities for any changes in the sponsor group's unitholding pattern and financial commitments.