5 days Ago By CNBCTV18
As many as 5.4 crore shares or 9.2% equity of Mindspace Business Parks REIT changed hands in block deal window on Tuesday, December 17.
Share Market View All Nifty Gainers View All Company Value Change %Change On Monday, December 16, CNBC-TV18 reported, citing sources, that Abu Dhabi Investment Authority (ADIA), the world’s second-largest sovereign wealth fund, was likely to divest a 9.2% stake in Mindspace Business Parks REIT through a block deal valued at ₹1,903 crore. The floor price for the transaction was fixed at ₹350 per unit, indicating a clean-out trade, sources said Mindspace Business Parks REIT reported a 5% growth in its net operating income to ₹503.
7 crore in the second quarter of this fiscal and announced a distribution of ₹305.4 crore for the July-September period. The company's net operating income (NOI) stood at ₹491.
2 crore in the year-ago period. Ramesh Nair, Chief Executive Officer, K Raheja Corp Investment Managers Pvt Ltd, Manager to Mindspace REIT, said, "Our performance in the second quarter reflects both the strength of our business and the broader momentum in the commercial real estate sector." Mindspace Business Parks REIT, sponsored by the K Raheja Corp group, was listed on the Indian bourses in August 2020.
It owns office portfolios in four key office markets, namely Mumbai Region, Pune, Hyderabad and Chennai. Mindspace’s portfolio consists of five integrated business parks and five independent office assets with superior infrastructure and amenities. Mindspace Business Parks REIT shares were trading 1.
92% lower at ₹356.95 apiece at 9.25 am on Tuesday, December 16.
The stock has gained 10.94% this year, so far. Also Read: MobiKwik shares may list at a 60% premium to their IPO price; Here is what the GMP indicates.
