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 (₹ 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 DateJul 27, 2020 - Jul 29, 2020
Issue TypeBook Built Issue REIT
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)
Face Value₹ per equity share
IPO Price₹274 to ₹275 per equity share
Market Lot200 Shares
Min Order Quantity200 Shares
Listing AtBSE, NSE
Market Cap (₹ Cr.)23675

Mindspace REIT Tentative Date / Timetable

Bid/Offer Opens OnJul 27, 2020
Bid/Offer Closes OnJul 29, 2020
Finalisation of Basis of AllotmentAug 6, 2020
Initiation of RefundsAug 7, 2020
Credit of Shares to Demat AcctAug 7, 2020
IPO Shares Listing DateAug 12, 2020

Mindspace REIT Lot Size and Price (Retail)

ApplicationLotsSharesAmount (Cut-off)
Minimum1200₹55,000
Maximum

Net Issue

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

Mindspace REIT Subscription Status (Bidding Detail)

Mindspace REIT how much subscribed?

No. of Times Issue Subscribed (BSE + NSE)

As on Date & Time

QIB

NII

Total

Shares Offered

36,952,600

30,793,800

67,746,400

Jul 29, 2020 17:00

10.61x

15.51x

12.96x

Mindspace REIT Prospectus

Mindspace REIT Rating

773
3.9
Rating:Rated 3.9 stars

Vote Here ...

Mindspace REIT Listing Date

Listing DateFriday, August 7, 2020
BSE Script Code543217
NSE SymbolMINDSPACE
Listing InIF
ISININE0CCU25019
IPO Price₹275 per equity share
Face Value₹ per equity share

Listing Day Trading Information

.
IPO Price
Open
Low
High
Last Trade
Volume
BSE
₹275.00
₹304.00
₹299.00
₹308.90
₹303.87
1,845,400

Mindspace REIT FAQs

  1. What is Mindspace REIT?

    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.

  2. How to apply in Mindspace REIT through Zerodha?

    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

  3. When Mindspace REIT will open?

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

  4. What is the lot size of Mindspace REIT?

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

  5. How to apply for Mindspace REIT?

    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.

  6. When Mindspace REIT allotment?

    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.

  7. When is Mindspace REIT listing date?

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

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Mindspace REIT Review / Comments

Aniketiaf
326. Aniketiaf  Aug 7, 2020 14:26 I Like It. 5 | I Don't Like It. 1 | Report Abuse Reply
IPO Guru IPO Guru (1100+ Posts, 6800+ Likes)
Sold @ 302.

Jaldbaji to nahi kar di...?
Aniketiaf
326.2. Aniketiaf  Aug 7, 2020 15:00 I Like It. 5 | I Don't Like It. | Report Abuse
IPO Guru IPO Guru (1100+ Posts, 6800+ 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.
Anurup
326.3. Anurup  Aug 12, 2020 14:31 I Like It. 2 | I Don't Like It. | Report Abuse
@ 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.....
🙏🏻🙏🏻
Justbeginner
325. Justbeginner  Aug 8, 2020 11:58 I Like It. | I Don't Like It. | Report Abuse Reply
New Member New Member
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.
Aniketiaf
324. Aniketiaf  Aug 8, 2020 11:32 I Like It. 8 | I Don't Like It. | Report Abuse Reply
IPO Guru IPO Guru (1100+ Posts, 6800+ Likes)
Nomura Investment on August 7 acquired 62,63,200 units in Mindspace Business Parks REIT 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.
Black Swan
323. Black Swan  Aug 7, 2020 17:29 I Like It. 2 | I Don't Like It. | Report Abuse Reply
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 %
sonal patel
322. sonal patel  Aug 6, 2020 19:17 I Like It. 3 | I Don't Like It. 5 | Report Abuse Reply
IPO Mentor IPO Mentor (600+ Posts, 2900+ 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.
NAND KISHORE PARWAL
322.2. NAND KISHORE PARWAL  Aug 7, 2020 13:30 I Like It. | I Don't Like It. | Report Abuse
Top Contributor Top Contributor (200+ Posts)
Rs.5000/ earnings on an average investment of Rs.850000/ for 10 days. About 2% return on investment.
ankur goel
322.3. ankur goel  Aug 7, 2020 16:55 I Like It. 2 | I Don't Like It. | Report Abuse
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%.
Unnikrishnan R
321. Unnikrishnan R  Aug 7, 2020 08:36 I Like It. | I Don't Like It. 1 | Report Abuse Reply
Kfintech issued "Basis of Allotment". Interesting to see some ratios.
Black Swan
321.4. Black Swan  Aug 7, 2020 14:50 I Like It. 1 | I Don't Like It. 1 | Report Abuse
Please do not share or ask for email and phone numbers. Its risky to share on public forums
ankur goel
321.5. ankur goel  Aug 7, 2020 16:29 I Like It. | I Don't Like It. | Report Abuse
Upload it somewhere on public portal like dropbox or google cloud and share the link so that everybody can access.
ankur goel
320. ankur goel  Aug 7, 2020 16:25 I Like It. 1 | I Don't Like It. | Report Abuse Reply
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.
No trade
319. No trade  Aug 7, 2020 14:37 I Like It. | I Don't Like It. | Report Abuse Reply
Sold @305 at 11:54 AM

Is it right price?

Nishiket
318. Nishiket  Aug 7, 2020 12:11 I Like It. | I Don't Like It. | Report Abuse Reply
Worth buying at CMP for long term holding? Please advise.
Nikhil IPO Investor
318.1. Nikhil IPO Investor  Aug 7, 2020 12:20 I Like It. | I Don't Like It. | Report Abuse
Yes, i expect this to do well in long term. But ensure you hold it for a year or 2 for good returns.
ajaygupta
317. ajaygupta  Aug 7, 2020 11:59 I Like It. | I Don't Like It. | Report Abuse Reply
Not able to sale shares in kotak securities. Share not showing to broker.
No trade
316. No trade  Aug 7, 2020 11:57 I Like It. | I Don't Like It. | Report Abuse Reply
Got allotment - 1 lot

Sold at - 305/-

Now relexed

& waiting for UTI AMC IPO
No trade
315. No trade  Aug 7, 2020 11:09 I Like It. | I Don't Like It. | Report Abuse Reply
Any level for sale or sale at CMP
ashok bhansali
314. ashok bhansali  Aug 7, 2020 11:05 I Like It. | I Don't Like It. | Report Abuse Reply
Anybody faced same problem. Seniors please advise.
ashok bhansali
313. ashok bhansali  Aug 7, 2020 10:39 I Like It. | I Don't Like It. | Report Abuse Reply
Fund not unblocked from PNB...mail not delivered mail id. einward.reit@kfintech.com, kraheja.reit@kfintech.com. what should i do.....
Aniketiaf
312. Aniketiaf  Jul 25, 2020 09:18 I Like It. 33 | I Don't Like It. 1 | Report Abuse Reply
IPO Guru IPO Guru (1100+ Posts, 6800+ Likes)
@ ammubutter
@ Amit Pathak
@Market first,

In India, investment in REIT is a new concept but it is the most popular scheme in Global market.
In previous REIT i.e Embassy REIT, I had applied, allotted with two lot units and sold at about 8% premium on listing day.

Now, Covid - 19 is a big concern, but it has limited effect on Mindspace till now as it has collected about 98% and 95 % of the contracted rent for the fully lockdown month of April and May respectively.

Doesn't mean situation due to Covid will not adversely affect in future, But
Due to High quality rental portfolio , Bumper response by Anchor Investor and cheaper valuation compare to Embassy REIT, I will apply through my 2 or 3 account (not full force) .
Personally I think, It should list about 300.

Thanks.
iponooob
312.7. iponooob  Aug 5, 2020 16:09 I Like It. 1 | I Don't Like It. | Report Abuse
This REIT will always trade in lot size of 200 until they decide to modify the lot size.
Best wishes
312.8. Best wishes  Aug 7, 2020 10:24 I Like It. 2 | I Don't Like It. | Report Abuse
Finally it's listed exactly there where you had suggested much earlier when everyone was negative to this IPO.

👏👏👏

I applied but not got.
Aniketiaf
311. Aniketiaf  Aug 7, 2020 05:57 I Like It. 5 | I Don't Like It. | Report Abuse Reply
IPO Guru IPO Guru (1100+ Posts, 6800+ 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.
Black Swan
311.2. Black Swan  Aug 7, 2020 09:50 I Like It. 1 | I Don't Like It. | Report Abuse
Can you please share the link Sir
Aniketiaf
311.3. Aniketiaf  Aug 7, 2020 09:59 I Like It. 4 | I Don't Like It. | Report Abuse
IPO Guru IPO Guru (1100+ Posts, 6800+ Likes)
310
It was flashing on Zee Business.
But
Actually it's 302/304
Black Swan
310.1. Black Swan  Aug 7, 2020 09:49 I Like It. | I Don't Like It. | Report Abuse
IEP 302 on NSE, 304 on BSE
Placed one lot buy bid at 301
Unnikrishnan R
309. Unnikrishnan R  Aug 7, 2020 09:47 I Like It. | I Don't Like It. | Report Abuse Reply
Got one lot @302
KING VINOD
308. KING VINOD  Aug 7, 2020 09:45 I Like It. | I Don't Like It. | Report Abuse Reply
IPO Guru IPO Guru (1300+ Posts, 2800+ Likes)
Opening at 302 @ 10% premium
Dhruv Unadkat
307. Dhruv Unadkat  Aug 7, 2020 09:15 I Like It. | I Don't Like It. | Report Abuse Reply
Indicative price 325 on bse
G.kumar
307.1. G.kumar  Aug 7, 2020 09:20 I Like It. | I Don't Like It. | Report Abuse
plz share pre open link







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