Mindspace REIT Approves Acquisition of Sycamore and Content Properties for Rs. 15,968 million and Rs. 9,441 million Respectively

Mindspace Business Parks REIT has informed the Exchange about the approval of the Board of the Manager for the acquisition of 100% equity shareholding and interest in Sycamore Properties Private Limited and Content Properties Private Limited. The Sycamore Property, located in Chennai, Tamil Nadu, consists of land admeasuring approximately 31,056.19 square meters and two office buildings known as ‘Block 1’ and ‘Block 2’. The Content Property, also located in Chennai, consists of land admeasuring approximately 12,353.15 square meters and an office building known as ‘Block 3’. The total acquisition price for the Sycamore Property is Rs. 15,968 million and for the Content Property is Rs. 9,441 million. The acquisitions are subject to the approval of the unitholders of Mindspace REIT and other regulatory approvals. The REIT also plans to issue up to 72,71,748 Units of Mindspace REIT to the shareholders of Sycamore and up to 66,42,740 Units of Mindspace REIT to the shareholders of Content as consideration for the transfer of their 100% equity shareholding.