Description

BSE lists 39,159,342 new units of Mindspace Business Parks REIT issued to sponsors on a preferential basis at Rs. 464.64 per unit, with various lock-in periods until January 2027 and 2029.

Summary

BSE has listed 39,159,342 new units of Mindspace Business Parks REIT (Scrip Code: 543217) issued on a preferential basis to sponsors. The units are priced at Rs. 464.64 each and will commence trading from January 14, 2026. The allotment date was January 9, 2026, and the units carry ISIN INE0CCU25019. All issued units are subject to lock-in provisions with varying expiry dates through January 2027 and January 2029.

Key Points

  • 39,159,342 new units listed for Mindspace Business Parks REIT
  • Issue price: Rs. 464.64 per unit
  • Allotment date: January 9, 2026
  • Trading commencement: January 14, 2026
  • Distinctive numbers: 609183635 to 648342976
  • All units issued on preferential basis to sponsors
  • Units rank pari-passu with existing units
  • Complete lock-in on all issued units with staggered release dates

Regulatory Changes

No regulatory changes introduced. This is a standard listing notification for preferential issuance under existing REIT regulations.

Compliance Requirements

  • Trading members must note the new securities are available for trading from January 14, 2026
  • Lock-in restrictions must be enforced as per the detailed schedule in Annexure 1
  • Units locked until January 15, 2027 (alternating tranches): 24,148,412 units total
  • Units locked until January 15, 2029 (alternating tranches): 15,010,930 units total

Important Dates

  • January 9, 2026: Date of allotment
  • January 14, 2026: Trading commencement date
  • January 15, 2027: Lock-in expiry for certain tranches (units in even-numbered lots)
  • January 15, 2029: Lock-in expiry for certain tranches (units in odd-numbered lots)

Impact Assessment

Market Impact: The preferential issuance represents a substantial increase in unit count for Mindspace Business Parks REIT. The staggered lock-in structure with 22 separate tranches alternating between 2027 and 2029 expiry dates indicates structured sponsor commitment and prevents immediate supply pressure.

Investor Impact: Existing unitholders face dilution from the 39.16 million new units. However, the preferential issuance to sponsors at Rs. 464.64 demonstrates sponsor confidence and capital commitment. The extensive lock-in periods provide assurance against near-term selling pressure from these units.

Operational Impact: The alternating lock-in pattern (odd lots locked till 2029, even lots till 2027) suggests a strategic approach to gradual liquidity enhancement while maintaining sponsor alignment over an extended period.

Impact Justification

Material preferential issuance representing significant unit expansion for the REIT with substantial lock-in provisions, relevant for investors tracking dilution and sponsor commitment.