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:

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:

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.

Mindspace Business Parks REIT has successfully completed strategic acquisitions worth ₹1,817.24 crores through a preferential unit allotment on January 9, 2026. The REIT allotted 3,91,59,342 units at ₹464.64 per unit to acquire 100% equity shareholding in Sundew Real Estate Private Limited and Pramaan Properties Private Limited.

Acquisition Details and Unit Allotment

The Allotment Committee of the Board of Directors approved the preferential allotment following satisfaction of various conditions precedent under the respective share purchase agreements. The allotment was structured in two tranches based on the acquired entities:

The allotment was conducted in accordance with SEBI (Real Estate Investment Trusts) Regulations, 2014 and Chapter 10 of the REIT Master Circular dated July 11, 2025, governing preferential issues by listed REITs.

Portfolio Expansion Through Strategic Assets

The acquisitions significantly expand Mindspace REIT's commercial real estate portfolio across key metropolitan markets. Sundew Real Estate brings The Square Avenue 98 (BKC Annex), a commercial building located at Village Kole Kalyan, South Salsette Taluka, Mumbai Suburban District. This property currently offers approximately 0.15 million square feet of leasable area with potential to enhance capacity to 0.22 million square feet.

Pramaan Properties contributes two strategic assets to the portfolio:

• Ascent-Worli: Located in Worli, Mumbai, this office building provides approximately 0.45 million square feet of leasable area along with 36 residential units proposed for rental operations
• Raheja Woods Office Building: Situated in Kalyani Nagar, Pune, offering approximately 0.11 million square feet of leasable area including an amenity building

Transaction Structure and Regulatory Compliance

The acquisitions were executed following comprehensive due diligence and receipt of all required corporate authorizations, waivers, permits, and approvals. The transaction structure involved Mindspace REIT acting through its trustee, with K Raheja Corp Investment Managers Private Limited serving as the Manager.

The preferential allotment follows earlier board meetings and unitholder approvals conducted through postal ballot, as referenced in the REIT's communications dated November 28, 2025, and December 30, 2025.

Market Position and Asset Quality

The acquired properties are strategically located in prime commercial districts, enhancing Mindspace REIT's presence in Mumbai's Bandra Kurla Complex vicinity, Worli business district, and Pune's established Kalyani Nagar area. The total leasable area addition of approximately 0.93 million square feet (current capacity) represents substantial portfolio growth, with potential expansion to over 1.0 million square feet upon optimization of The Square Avenue 98.

The transaction demonstrates Mindspace REIT's continued focus on acquiring quality commercial real estate assets in key metropolitan markets, funded through strategic unit issuances to existing stakeholders of the acquired entities.