Mindspace Business Parks REIT Redeems ₹540 Crore Commercial Paper on Maturity in May 2026
Timely Debt Redemption
Mindspace Business Parks REIT fully redeemed its commercial paper of INR 540 crores on maturity date May 15, 2026, comprising 10,800 commercial papers issued on private placement basis at a face value of INR 5,00,000 each and discounted issue value of INR 4,74,435 each. The redemption was filed with NSE and BSE by K Raheja Corp Investment Managers Private Limited, with no outstanding dues and a request for delisting of scrip code '729884'.
Regulatory Filings and Compliance
The redemption intimation was submitted to both the National Stock Exchange of India Ltd. and BSE Limited by K Raheja Corp Investment Managers Private Limited, acting as the Manager to Mindspace Business Parks REIT. The filing was signed by Mridul Gupta, Company Secretary & Compliance Officer, on May 15, 2026.
The intimation was filed pursuant to the SEBI Master Circular no. SEBI/HO/DDHS/DDHS-PoD/P/CIR/2025/0000000137 dated October 15, 2025.
About Mindspace Business Parks REIT
Mindspace Business Parks REIT, sponsored by K Raheja Corp group, was listed on the Indian bourses in August 2020. The REIT owns quality office assets located in four key office markets of India, namely the Mumbai Region, Pune, Hyderabad, and Chennai, and has one of the largest Grade-A office portfolios globally.
The portfolio has a total leasable area of 39.0 msf, comprising 31.9 msf of completed area, 3.6 msf of area under construction, and 3.5 msf of future development. The portfolio consists of 5 integrated business parks and 9 quality independent office assets with superior infrastructure and amenities.
Ratings and Financial Profile
CRISIL and ICRA reaffirmed AAA/Stable ratings; commercial paper enhanced to INR 3,000 crore. This strong credit rating reflects the REIT's consistent operational performance and financial discipline. The REIT has a diversified and high-quality tenant base, with over 270 tenants. Most of the buildings in the portfolio are either Gold or Platinum Green Building Certified (IGBC/LEED).
Strategic Capital Management
The redemption comes as part of the REIT's active debt management and capital optimization strategy. Mindspace Business Parks REIT has intimated stock exchanges of an Executive Committee meeting of its manager, K Raheja Corp Investment Managers Private Limited, scheduled for May 19, 2026, to consider and approve fund raising through non-convertible debt securities, commercial papers, or other permitted instruments. This signals the REIT's continued focus on maintaining an optimal capital structure to support growth initiatives across its portfolio.