A major real estate transaction is underway as Mindspace REIT plans to acquire Sustain Properties Private Ltd. for ₹2,038 Crores. This acquisition includes a large 1.82 million square feet of leasable commercial space in Hyderabad which will be carried out through a share exchange process.
K Raheja Corp Investment Managers Private Limited plans to acquire 100% equity shares of Sustain Properties Private Limited. Sustain owns approximately 1.82 million square feet of leasable space in Commerzone Raidurg, Hyderabad. The acquisition will be executed through a share swap where Sustain’s shareholders, who belong to the K Raheja Corp Group, will receive units of Mindspace REIT in exchange for their shares.
Ramesh Nair, CEO of Mindspace REIT, said, “Buying Commerzone Raidurg is a big step in our plan to create value and growth for our unitholders.” He mentioned that this high-quality, fully rented property makes the company’s portfolio stronger, ensures stable income and supports its growth plans.
Mindspace REIT plans to issue units on a preferential basis to the shareholders of Sustain Properties. This issuance is part of the acquisition process and ensures compliance with regulatory requirements. The approval process for this unit issuance will be a key agenda item for the Board.
Mindspace Business Parks REIT is a real estate investment trust (REIT) focused on high-quality commercial office spaces in India. Sponsored by K Raheja Corp, it owns and operates a portfolio of premium office properties across key cities like Mumbai, Hyderabad, Pune and Chennai. The REIT provides institutional-grade office spaces catering to global and domestic businesses, including IT, BFSI and other corporate sectors.
As of January 30, 2025, at 11:05 AM, shares of Mindspace REIT are trading at ₹375 per share, reflecting a decline of 0.12% from the previous day’s closing price. Over the past month, the stock has registered a slight surge of 4.13% and over the last year it has increased by 1.63%. The stock’s 52-week high stands at ₹384.99 per share, while its 52-week low is ₹316.39 per share.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Jan 30, 2025, 3:01 PM IST
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