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Mindspace Business Parks REIT (Mindspace REIT) Detail

Jul 27, 2020 - Jul 29, 2020

Mindspace Business Parks REIT has a quality office portfolio in Mumbai, Hyderabad, Pune and Chennai. The business parks in Mumbai are Mindspace Airoli East Business Park, Mindspace Airoli West Business Park, Paradigm Mindspace Malad and The Square, BKC(2).

The properties in the Pune include Commerzone Yerwada Business Park, Gera Commerzone Kharadi Business Park and The Square, Nagar Road. The Chennai property of the company is Commerzone Porur. And, the office parks in Hydrabad are Commerzone Pocharam and Mindspace Madhapur.

The total leasable area of Mindspace Business Parks are 12.1 msf, 11.6 msf, 5.0 msf and 0.8 msf in Mumbai, Hyderabad, Pune and Chennai, respectively. With total leasable area of 29.5 msf, it is one of the largest Grade-A office portfolios in India.

The under-construction area of the company is 2.8 m sq ft. The future construction of Mindspace Business is spread across Hyderabad, Chennai, and Mumbai in a 3.6 m sq ft area.

Real Estate Investment Trust (REIT) Explained

Under the REIT Regulations Mindspace REIT has to invest a minimum of 80% of the value of its assets in completed and rent and/ or income-generating properties.

REIT Regulations also impose restrictions on certain investments including investments in vacant land, agricultural land, or mortgages other than mortgage-backed securities and assets located outside India.

As per REIT Regulations, the portfolio of the Mindspace REIT is required to be maintained for a period of minimum 3-years from the date of purchase or completion.

Real Estate Investment Trust (REIT) Explained

Competitive Strengths

1. Diversified and quality tenant base
2. Strong industry fundamentals
3. Experienced management team with KRC group support
4. Stable cash flows

Company Promoters:

Cape Trading LLP and Anbee Constructions LLP are the promoters of the company.

Company Financials:

Summary of financial Information (Restated)
Particulars For the year/period ended (Rs in Million)
31-Mar-20 31-Mar-19 31-Mar-18 31-Mar-17
Total Assets 1,12,224 91,437 84,738 81,293
Total Revenue 20,262 16,797 15,022 14,354
Profit After Tax 5,139 5,154 1,610 2,313

Objects of the Issue:

The proceeds will be utilised towards the following objects:

1. Partial or full pre-payment or scheduled repayment of certain debt facilities of the Asset SPVs availed
from banks/financial institutions (including any accrued interest and any applicable penalties/ premium);
2. Purchase of NCRPS of MBPPL; and
3. General purposes

Mindspace REIT Details

IPO Opening Date Jul 27, 2020
IPO Closing Date Jul 29, 2020
Issue Type Book Built Issue REIT
Face Value ₹ per equity share
IPO Price ₹274 to ₹275 per equity share
Market Lot 200 Shares
Min Order Quantity 200 Shares
Listing At BSE, NSE
Issue Size[.] Eq Shares of ₹
(aggregating up to ₹4,500.00 Cr)
Fresh Issue[.] Eq Shares of ₹
(aggregating up to ₹1,000.00 Cr)
Offer for Sale[.] Eq Shares of ₹
(aggregating up to ₹3,500.00 Cr)
Market Cap (₹ Cr.)23675

Mindspace REIT Tentative Timetable

The Mindspace REIT open date is Jul 27, 2020, and the close date is Jul 29, 2020. The issue may list on Aug 12, 2020.

IPO Open Date Jul 27, 2020
IPO Close Date Jul 29, 2020
Basis of Allotment Date Aug 6, 2020
Initiation of Refunds Aug 7, 2020
Credit of Shares to Demat Account Aug 7, 2020
IPO Listing Date Aug 12, 2020

Mindspace REIT Lot Size

The Mindspace REIT market lot size is 200 shares. A retail-individual investor can apply for up to lots ( shares or ).

Application Lots Shares Amount (Cut-off)
Minimum 1 200 ₹55,000
Maximum

Net Issue

  • Institutional Investors: 75% of the net offer
  • Non Institutional Investors: 25% of the net offer

Mindspace REIT Review

The first REITs of Embassy Parks have managed to give around 8% distribution rewards so far. But now this sector is set for a litmus taste as amidst COVID-19 pandemic many IT and service industry have opted for Work from Home (WFH) model. Although management claims that such a situation may not continue for long and hoping for revival which will lead to pushing in demand to keep social distancing at the workplace. Thus views on future prospects are divided among masses. Considering RISK FACTORS indicated by the company and prevalent uncertainties, cash surplus - risk savvy investors may consider investment at their own risk. Read detail review...

Mindspace REIT Subscription Status (Bidding Detail)

The Mindspace REIT is subscribed 12.96 times on Jul 29, 2020 5:00:00 PM. The public issue subscribed times in the retail category, 10.61 times in the QIB category, and 15.51 times in the NII category. Check Day by Day Subscription Details (Live Status)

CategorySubscription (times)
QIB10.61
NII15.51
Total12.96

Mindspace REIT Prospectus

Mindspace REIT Rating

773
3.9
Rating:Rated 3.9 stars
Vote Here ...

Mindspace REIT Listing Date

Listing Date Friday, August 7, 2020
BSE Script Code 543217
NSE Symbol MINDSPACE
Listing In IF Group of Securities
ISIN INE0CCU25019
IPO Price ₹275 per equity share
Face Value ₹ per equity share

Listing Day Trading Information

.
IPO Price
Open
Low
High
Last Trade
BSE
₹275.00
₹304.00
₹299.00
₹308.90
₹303.87
NSE
₹275.00
₹302.00
₹300.00
₹307.20
₹303.70

Company Contact Information

Mindspace Business Parks
Raheja Tower, Level 8, Block 'G',
C-30, Bandra Kurla Complex,
Mumbai - 400 051
Phone: +91 2656 4000
Email: reitcompliance@mindspacereit.com
Website: https://www.mindspacereit.com/

Mindspace REIT Registrar



Phone:
Email: kraheja.reit@kfintech.com
Website: http://

Mindspace REIT FAQs

Mindspace REIT is a main-board REIT of [.] equity shares of the face value of ₹ aggregating up to ₹4,500.00 Crores. The issue is priced at ₹274 to ₹275 per equity share. The minimum order quantity is 200 Shares.

The REIT opens on Jul 27, 2020, and closes on Jul 29, 2020.

is the registrar for the REIT. The shares are proposed to be listed on BSE, NSE.

Zerodha customers cannot apply online in Mindspace REIT using UPI as a payment gateway. UPI is not an option in Mindspace REIT public issue. Zerodha customers have to apply through net-banking.

Steps to apply in Mindspace REIT through Zerodha

  1. Login to your net-banking account.
  2. Go to the IPO section.
  3. Go to the 'Mindspace REIT' row and click the 'Apply' button.
  4. Enter the Quantity and Price.
  5. ‘Submit’ IPO application form.

Bank wise detail steps to apply in Mindspace REIT

The Mindspace REIT opens on Jul 27, 2020 and closes on Jul 29, 2020.

Mindspace REIT lot size is 200 Shares and the minimum order quantity is 200 Shares.

You can apply in Mindspace REIT online using ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. Note that UPI is not an option in Mindspace REIT public issue. Read more detail about apply IPO online through ICICI Bank, HDFC Bank, SBI Bank, Kotak Bank and Axis Bank.

The finalization of Basis of Allotment for Mindspace REIT will be done on Aug 6, 2020, and the allotted shares will be credited to your demat account by Aug 7, 2020. Check the Mindspace REIT allotment status.

The Mindspace REIT listing date is on Friday, August 7, 2020.

Mindspace REIT Message Board

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671 Comments

329. kiran mahadev anpat |   Link |Sep 19, 2020 11:51:34 PM
Can anybody applied maximum allotments and received any single allotment? Please let me know.
328. DEVBULL |   Link |Sep 11, 2020 10:22:58 PM
ADMIN sir, you have not uploaded Basis of Allotment for Mindspace. Kfin (i.e. Karvy) who handled this IPO has also not uploaded in it's website. Sent mail to Kfin. Can we get it from SEBI / NSE / BSE, if not received from Kfin?
327. Mohd Nazim Shaikh |   Link |Aug 31, 2020 11:17:25 AM
Hi,
I have purchased IPO of Mindspace business Park 200 shares. Now I m trying to sell all those shares through my HDFC demat account. But I m unable to sell. It's not allowing me to place the order.
Please suggest
326. Sandeepa R |   Link |Aug 24, 2020 9:29:54 PM
I have try to buy mindspace IPO on 29 July at lost movement session timeout occurred and finally IPO application not completed.
But amount of around 55000 was blocked in my account for this mindspace IPO, right now not unblocked please check and do needful.
Thanks
325. G.kumar |   Link |Aug 16, 2020 10:49:09 PM
Top Contributor Top Contributor (300+ Posts, 300+ Likes)
am still holding 1 lot...
325.1. Ankur Goel |   Link |Aug 17, 2020 7:22:25 PM
Top Contributor Top Contributor (400+ Posts, 300+ Likes)
Keep holding
324. Aniketiaf |   Link |Aug 7, 2020 3:26:51 PM
IPO Guru IPO Guru (1800+ Posts, 10200+ Likes)
Sold @ 302.

Jaldbaji to nahi kar di...?
324.2. Aniketiaf |   Link |Aug 7, 2020 4:00:19 PM
IPO Guru IPO Guru (1800+ Posts, 10200+ Likes)
Totally agreed. But money required for some other purpose so I couldn't hold more than one week.
Formula for converting profit into share/unit is not applicable here that's why I have sold all.
Thanks.
324.3. Anurup |   Link |Aug 12, 2020 3:31:40 PM
@ Aniketiaf sir,
Pichhle 5 Dino se Mindspace 302 k aas paas hi trade kar Raha hai.
Ab lagta hai ki 302 par bech kar aapne koi jaldwaji nahi ki Balki kafi soch samajh kar aap Mindspace se Nikal liye.....
????????????????
323. Justbeginner |   Link |Aug 8, 2020 12:58:51 PM
Is there anyone who did not get any lot allocated of Mindspace Business Parks IPO? If yes, then have you got refund in your account yet?
Please let me know as i have not get refund yet as 7th Aug was refund initiation date.
Thank you.
322. Aniketiaf |   Link |Aug 8, 2020 12:32:52 PM
IPO Guru IPO Guru (1800+ Posts, 10200+ Likes)
Nomura Investment on August 7 acquired 62,63,200 units inĀ Mindspace Business Parks REITĀ at Rs 302.45 per unit via open market transactions.

Capital Income Builder also bought 51,81,400 units in Mindspace at Rs 303.44 per share, bulk deals data available on the National Stock Exchange showed.
321. Black Swan |   Link |Aug 7, 2020 6:29:06 PM
Top Contributor Top Contributor (200+ Posts, 200+ Likes)
NSE
Quantity Traded - 2,70,14,200
Deliverable Quantity (gross across client level) - 2,38,24,600
% of Deliverable Quantity to Traded Quantity       - 88.19 %

BSE
Quantity Traded - 18,45,400
Deliverable Quantity (Gross across client level) - 14,01,000
% of Deliverable Quantity to Traded Quantity       - 75.92 %
320. sonal patel |   Link |Aug 6, 2020 8:17:39 PM
IPO Guru IPO Guru (1300+ Posts, 5300+ Likes)
Mindspace Business Parks REIT to debut on August 7, issue price set at Rs 275 per share


Sharad Mittal of Motilal Oswal Real Estate Fund feels from Mindspace, investors can earn a return of 11-12 percent of which 7-8 percent which accrues from rental yield is as stable as debt.
320.2. NAND KISHORE PARWAL |   Link |Aug 7, 2020 2:30:10 PM
Top Contributor Top Contributor (300+ Posts, 100+ Likes)
Rs.5000/ earnings on an average investment of Rs.850000/ for 10 days. About 2% return on investment.
320.3. ankur goel |   Link |Aug 7, 2020 5:55:36 PM
Top Contributor Top Contributor (400+ Posts, 300+ Likes)
Why it is investment of 850000? Money lies in your account till allotment. So ideally you invested only 55000. so from date of deducting money from account and to listing date, it is only 2 days. In 2 days you get 10%.
319. Unnikrishnan R |   Link |Aug 7, 2020 9:36:35 AM
Kfintech issued "Basis of Allotment". Interesting to see some ratios.
319.4. Black Swan |   Link |Aug 7, 2020 3:50:09 PM
Top Contributor Top Contributor (200+ Posts, 200+ Likes)
Please do not share or ask for email and phone numbers. Its risky to share on public forums
319.5. ankur goel |   Link |Aug 7, 2020 5:29:41 PM
Top Contributor Top Contributor (400+ Posts, 300+ Likes)
Upload it somewhere on public portal like dropbox or google cloud and share the link so that everybody can access.
318. ankur goel |   Link |Aug 7, 2020 5:25:40 PM
Top Contributor Top Contributor (400+ Posts, 300+ Likes)
Approax 2.90 crore units amounting 1000 crore of Mindspace traded on NSE & BSE. It means all retailers & NII units gone assuming no QIB sold his stake in open market.
317. No trade |   Link |Aug 7, 2020 3:37:15 PM
Sold @305 at 11:54 AM

Is it right price?

316. Nishiket |   Link |Aug 7, 2020 1:11:05 PM
Worth buying at CMP for long term holding? Please advise.
316.1. Nikhil IPO Investor |   Link |Aug 7, 2020 1:20:43 PM
Yes, i expect this to do well in long term. But ensure you hold it for a year or 2 for good returns.
315. ajaygupta |   Link |Aug 7, 2020 12:59:28 PM
Not able to sale shares in kotak securities. Share not showing to broker.
314. No trade |   Link |Aug 7, 2020 12:57:11 PM
Got allotment - 1 lot

Sold at - 305/-

Now relexed

& waiting for UTI AMC IPO
313. No trade |   Link |Aug 7, 2020 12:09:18 PM
Any level for sale or sale at CMP
312. ashok bhansali |   Link |Aug 7, 2020 12:05:34 PM
Anybody faced same problem. Seniors please advise.
311. ashok bhansali |   Link |Aug 7, 2020 11:39:52 AM
Fund not unblocked from PNB...mail not delivered mail id. einward.reit@kfintech.com, kraheja.reit@kfintech.com. what should i do.....
310. Aniketiaf |   Link |Aug 7, 2020 6:57:18 AM
IPO Guru IPO Guru (1800+ Posts, 10200+ Likes)
Good morning to all.
Today, there is listing of Mindspace park. Wishing a at least 10-15 % listing day gain to all of us.
Thanks.
310.2. Black Swan |   Link |Aug 7, 2020 10:50:00 AM
Top Contributor Top Contributor (200+ Posts, 200+ Likes)
Can you please share the link Sir
310.3. Aniketiaf |   Link |Aug 7, 2020 10:59:12 AM
IPO Guru IPO Guru (1800+ Posts, 10200+ Likes)
310
It was flashing on Zee Business.
But
Actually it's 302/304