Mindspace REIT to raise up to ₹1,57,000 Mn via debt securities

Mindspace Business Parks REIT's Executive Committee of the Board of Directors has approved a plan to raise funds up to an aggregate amount of INR 1,57,000 Million. The funds will be raised through the issuance of non-convertible debt securities and/or commercial papers, or any other permitted form, in one or more tranches. This amount is net of repayments and includes outstanding indebtedness. A key condition for this fund-raising is that the aggregate consolidated borrowings and deferred payments of Mindspace REIT and its associated entities, net of cash and cash equivalents, must not exceed 33% of their total asset value. This move aims to enhance the REIT's financial flexibility and support its operational and growth objectives.