Mindspace Business Parks REIT has successfully completed the full redemption of its Non-Convertible Debentures (NCDs) worth ₹550 crores at maturity. The REIT also made its final quarterly interest payment on the same date, marking the complete closure of this debt instrument.

NCD Redemption Details

The REIT redeemed all outstanding NCDs with ISIN INE0CCU07074 on April 13, 2026, which was the scheduled maturity date. The redemption covered the entire issue size of ₹550 crores, with no partial redemption involved.

Interest Payment Completion

Alongside the principal redemption, Mindspace REIT also completed its final quarterly interest payment on the NCDs. The interest payment was made on the due date without any delays.

Regulatory Compliance

The REIT filed the redemption certificate with BSE Limited pursuant to Regulation 57 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The NCDs were listed on the wholesale debt market segment of BSE Limited under multiple scrip codes.

The certificate was signed by Mridul Gupta, Company Secretary & Compliance Officer, on behalf of K Raheja Corp Investment Managers Private Limited, which acts as the Manager to Mindspace Business Parks REIT. Both the interest payment and principal redemption were completed on schedule, demonstrating the REIT's commitment to meeting its debt obligations in a timely manner.

Mindspace Business Parks REIT has received reaffirmation of its credit ratings from ICRA Limited, reinforcing the REIT's strong financial position and creditworthiness. The rating agency confirmed the reaffirmation on April 06, 2026, maintaining stable outlooks across all rated instruments.

Credit Rating Details

ICRA Limited has reaffirmed comprehensive credit ratings for Mindspace Business Parks REIT across multiple financial instruments. The rating reaffirmation covers the REIT's issuer rating, debt securities, and short-term commercial papers, providing investors with continued confidence in the entity's financial stability.

Regulatory Compliance

The REIT has informed both the National Stock Exchange of India Limited and BSE Limited about the rating reaffirmation in compliance with regulatory requirements. The disclosure was made pursuant to Regulation 23(5) of the Securities and Exchange Board of India (Real Estate Investment Trusts) Regulations, 2014, and Regulation 51(2) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The communication was signed by Mridul Gupta, Company Secretary and Compliance Officer, on behalf of K Raheja Corp Investment Managers Private Limited, which acts as the Manager to Mindspace Business Parks REIT.

Rating Validation and Terms

ICRA Limited confirmed that the ratings previously communicated on March 17, 2026, remain valid with unchanged terms and conditions. The rating agency emphasized that these ratings represent opinions and should not be treated as recommendations to buy, sell, or hold the rated instruments.

The rating letters specify that ICRA reserves the right to review and revise the ratings based on new information or changing circumstances that could impact the REIT's creditworthiness. Any modifications to the terms, conditions, or size of the rated instruments would require a fresh review by the rating agency.

Key Rating Considerations

For the commercial paper program, ICRA highlighted specific validity conditions:

• Instruments must be issued within three months of the rating date
• Once issued, ratings remain valid throughout the instrument's life (maximum twelve months)
• The rating agency retains the right to review ratings based on new developments

The rating reaffirmation underscores Mindspace Business Parks REIT's continued financial strength and ability to service its debt obligations across different maturity profiles.