- POSITIVE
Annual Revenue Mindspace REIT Mar-2026 Annual Revenue is Rs 1,289 Cr which is growth of 33.2% YoY.
- POSITIVE
Annual Net Profit Mindspace REIT Mar-2026 Annual Net Profit is Rs 725 Cr which is growth of 22.5% YoY.
Mindspace Business Parks Mindspace Business Parks is a quality office portfolio located in four key office markets of India and has a total leasable area of 29.5 msf and is one of the largest Grade-A office portfolios in India. REIT is engaged in a real estate investment trust.
| Bidding Dates |
|---|
| 27 Jul 2020 - 29 Jul 2020 |
| Subscription |
|---|
| 12.96x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹55,000 | 1 | - | 200 | 163.6 M | ₹274 - ₹275 | - | ₹44,836.4 M - ₹45,000.0 M | RHP DOC |
Mindspace REIT IPO SUBSCRIPTION STATUS
29 Jul '20Total12.96x
Retail Individual Investor15.51x
HNI (NII) Investors10.61x
Qualified Institutional Buyers-
Mindspace REIT IPO overall subscription rate was 12.96 times the total available shares
Mindspace REIT IPO retail subscription rate was 15.51 times in the retail segment
Mindspace REIT IPO non-institutional investor subscription rate was 10.61 times in the non-institutional investor category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | - | 50% | 50% |
27 Jul 2020 (Day 1) | 0.4x | 0.37x | - |
28 Jul 2020 (Day 2) | 1.65x | 0.83x | - |
29 Jul 2020 (Day 3) | 15.51x | 10.61x | - |
Mindspace REIT FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from operations (Rs in millions) | Cash Flow from operations (Rs in millions) | Free Cash flow (Rs in millions) |
| FY20 | 5,139.0 | 17,660.0 | 9,266.0 | 8,968.0 |
| FY19 | 5,154.0 | 14,316.0 | 9,338.0 | 9,257.0 |
| FY18 | 1,610.0 | 12,631.0 | 7,590.0 | 7,517.0 |
Mindspace REIT IPO SUBSCRIPTION STATUS DETAILS
Mindspace REIT had 163.6 M shares on offer
Mindspace REIT IPO offer price was in the range ₹274 - ₹275
Mindspace REIT IPO minimum Investment was ₹55000
Mindspace REIT IPO issue size was ₹ 44,836.4 M - ₹ 45,000.0 M
Mindspace REIT had a minimum lot size of 200 Shares per application
Mindspace REIT NUMBER OF SHARES ON OFFER
Total163.6 M
Fresh Issue36.4 M
Offer for Sale127.3 M
Post Issue Promoter Holding %
Mindspace REIT IPO IMPORTANT DATES
| Issue Open Date | 27 Jul 2020 |
| Issue close Date | 29 Jul 2020 |
| Allotment Date | 06 Aug 2020 |
| Refund Date | 07 Aug 2020 |
| Demat Account Credit Date | 07 Aug 2020 |
| Listing Date | 12 Aug 2020 |
| Listing on Exchange(s) | NSE and BSE |
| Mindspace REIT Allotment Status | Exchange |
Mindspace REIT IPO subscription opened on 27 Jul 2020, and closed on 29 Jul 2020
IPO allotment for Mindspace REIT was finalized on Thursday, 06 Aug 2020
IPO listing for Mindspace REIT was on NSE and BSE on Wednesday, 12 Aug 2020
Mindspace REIT IPO LISTING GAINS
| Issue Price (adjusted) | 275.0 |
| Listing Open Price | 302.0 |
| Listing Close Price | 303.7 |
| Listing Gain% | 9.8% |
| Current Gain% | 78.9% |
Mindspace REIT Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Mindspace Business Parks REIT | 492 | 39.6 | 0.8 | 8.8 | 4.3 | 2.1 | 3293.1 | 23.1 | 651.9 | 36.9 | 12.4 | 50 | |
| Knowledge Realty Trust | 110.9 | 49159.8 | 10.5 | 0.9 | 4146.9 | 15.6 | 222.5 | -34.5 | |||||
| Altius Telecom Infrastructure Trust | 170.2 | 44316.1 | 5.6 | 1.1 | 19623.7 | 47 | 839.9 | -25 | |||||
| Embassy Office Parks REIT | 411 | 38963.2 | 1.6 | 0.7 | 4675.8 | 11.8 | 338.5 | -79.2 | |||||
| Bagmane Prime Office REIT | 105.9 | 36016.2 | 56.5 | 12.4 | 2390.9 | 6.9 | 896.5 | 10.8 | |||||
| National Highways Infra Trust | 169 | 32732.8 | 2.9 | 1.3 | 4322.2 | 78.9 | 685.5 | 110.9 |
Forecaster
Revenue Mix
Quarterly
Annual
Balance Sheet
Ratios
Cash Flow
Mindspace REIT annual results: revenue, profit, P&L, and margins as of Mar 2026 – 11 year history
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Base Level
Reporting Type
Standalone
Cell Data
Actual
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YoY & New to Old
CAGR Columns
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*All financials are in INR Cr and price data in INR
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Total Rev. Ann.
1Y CHG
33.2%
2Y CAGR
-4.1%
3Y CAGR
0.2%
5Y CAGR
16%
Net Profit Ann.
1Y CHG
22.5%
2Y CAGR
-21%
3Y CAGR
-14.2%
5Y CAGR
4.4%
Operating Exp. Ann.
1Y CHG
32%
2Y CAGR
30.8%
3Y CAGR
20%
5Y CAGR
31.7%
Mindspace REIT INFORMATION ON IPO ISSUE
About Mindspace REIT
Mindspace Business Parks Mindspace Business Parks is a quality office portfolio located in four key office markets of India and has a total leasable area of 29.5 msf and is one of the largest Grade-A office portfolios in India. REIT is engaged in a real estate investment trust.
Object of the Issue
- Partial or full pre-payment or scheduled repayment of certain debt facilities of the asset SPVs availed from banks/financial institutions
- Purchase of NCRPS of MBPPL
- General purposes
Mindspace REIT - PROMOTERS
| Name |
|---|
| Cape Trading LLP |
| Anbee Constructions LLP |
Mindspace REIT Book Running Lead Manager
Morgan Stanley India Company Private Limited
mindspacereit@morganstanley.com
Axis Capital Limited
mindspacereit.ipo@axiscap.in
DSP Merrill Lynch Limited
dg.mindspacereit_ipo@bofa.com
Citigroup Global Markets India Private Limited
mindspace.reit.ipo@citi.com
JM Financial Limited
mindspace.reit@jmfl.com
Kotak Mahindra Capital Company Limited
raheja.reit@kotak.com
Nomura Financial Advisory and Securities (India) Private Limited
mindspacereitipo@nomura.com
Ambit Capital Private Limited
mindspace.reit@ambit.co
HDFC Bank Limited
mindspacereit.ipo@hdfcbank.com
IDFC Securites Limited
Raheja.reit@kotak.com
ICICI Securities Limited
project.jade@icicisecurities.com
Mindspace REIT Registrar to the issue
Kfin Technologies Private Limited
kraheja.reit@kfintech.com
Mindspace REIT Strengths
Portfolio with significant scale
The integrated business parks have been developed and are operated to superior standards to meet the evolving demands of “new-age businesses”
Strength
Well located assets with significant scale
The portfolio comprises five integrated business parks and five quality independent offices, totaling 29.5 msf of total leasable area, comprising 23.0 msf of completed area, 2.8 msf of under construction area, and 3.6 msf of the future development area, as of March 31, 2020
Strength
International standard infrastructure
The company has an international standard infrastructure that caters to the needs of “new age businesses” at significantly lower capital values compared to the global benchmark
Strength
Mindspace REIT Risks
Assumed liabilities
The company has assumed liabilities in relation to the Portfolio and these liabilities, if realised, may adversely affect the results of operations, cash flow
Risk
Dependent on real eastate market in India
The business and its profitability depend on the performance of the commercial real estate market in India
Risk
IPO FAQs
This IPO consists of an offer for sale of up to Rs 3,500.0 crore, of 127,272,727 shares. It also consists of a fresh issue of Rs 1,000.0 crore.
The promoters of the company are Cape Trading LLP and Anbee Constructions LLP.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 50.0% and for retail investors it is 0.0%.
The price band of the IPO is Rs 274.0 - 275.0.
The IPO application opens on Jul 27, 2020 and closes on Jul 29, 2020.
This IPO will be allotted on Aug 06, 2020.
The refund will be credited to your account on Aug 07, 2020.
The allotted shares will be credited to your demat on Aug 07, 2020.
Mindspace Business Parks REIT’s shares listed on the stock exchanges on Aug 12, 2020.