Mindspace Business Parks REIT, a real estate investment trust sponsored by K Raheja Corp and private equity firm Blackstone, has raised Rs 1,125 crore ($150 million) from a bunch of investors (GIC, Capital Group, Fidelity and Fillerton) ahead of its initial public offering.
The REIT aims to raise Rs 4,500 crore through the IPO, including a fresh sale of units worth Rs 1,000 crore and an offer for sale of Rs 3,500 crore by existing unit holders including Blackstone and K Raheja group entities.
On Tuesday, the company said that MindSpace Business Parks REIT has fixed a price band of Rs274-275 per share for its upcoming initial public offering (IPO), which opens on 27 July. The IPO closes on 29 July.
Only the second in the country to aim at a public listing, Mindspace Business Parks REIT has a portfolio of 29.5 million sq ft of commercial properties located in major cities such as Mumbai, Pune, Chennai and Hyderabad, among which around 24.5 million sq ft area has been erected.

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