Acquisitions7 May 2026, 10:41 pm
Mindspace REIT Completes Chennai Property Acquisitions
AI Summary
Mindspace Business Parks REIT has completed the acquisition of 100% equity shareholding in Content Properties Private Limited and Sycamore Properties Private Limited, which own land and buildings in Chennai. The acquisition was completed after satisfying conditions precedent and receiving necessary approvals. As consideration, Mindspace REIT allotted 63,99,388 units to Content shareholders and 72,71,748 units to Sycamore shareholders, each at a price of ₹484.89 per unit, on a preferential basis.
Key Highlights
- Mindspace REIT acquires 100% stake in Content Properties Private Limited.
- Mindspace REIT acquires 100% stake in Sycamore Properties Private Limited.
- Content owns land and a building ('Block 3') in Chennai.
- Sycamore owns land and two buildings ('Block 1' and 'Block 2') in Chennai.
- Units allotted to Content shareholders: 63,99,388 at ₹484.89 per unit.
- Units allotted to Sycamore shareholders: 72,71,748 at ₹484.89 per unit.