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.

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.

Mindspace Business Parks REIT disclosed that its Managing Director and CEO, Ramesh Kumar Nair, purchased 10,200 units of the trust on the open market on August 14, 2026. The acquisition, valued at ₹50,58,996, brings Nair’s total holding to 80,360 units.

The purchase was made pursuant to Regulation 7(2) of the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015. K Raheja Corp Investment Managers Private Limited, acting as the manager to the REIT, filed the disclosure with the National Stock Exchange and BSE on August 18, 2026.

Transaction Details

Nair held 70,160 units prior to this transaction, accounting for 0.01060% of the total unitholding. Following the buy, his stake rose to 0.01214%.

What the Numbers Show

The open market purchase by the top executive signals internal confidence in the trust’s valuation at current levels. The transaction value of ₹50.6 lakh for 10,200 units implies an average acquisition price of approximately ₹496 per unit, providing a reference point for recent market pricing activity by insiders.