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Mindspace Business Parks REIT trades higher on raising Rs 100 crore via commercial papers issuance

21 Dec 2022 Evaluate

Mindspace Business Parks REIT is currently trading at Rs. 339.82, up by 1.06 points or 0.31% from its previous closing of Rs. 338.76 on the BSE.

The scrip opened at Rs. 338.76 and has touched a high and low of Rs. 340.74 and Rs. 336.75 respectively. So far 775 shares were traded on the counter.

The BSE group 'IF' stock of face value Rs. 274.59 has touched a 52 week high of Rs. 388.00 on 14-Sep-2022 and a 52 week low of Rs. 311.49 on 10-Jan-2022.

Last one week high and low of the scrip stood at Rs. 340.74 and Rs. 330.50 respectively. The current market cap of the company is Rs. 0.00 crore.

Mindspace Business Parks REIT (Mindspace REIT) has completed issuance of Commercial Papers of Rs 100 crore for a maturity of 3 months at an interest rate of 7.20% per annum. Mindspace REIT’s Commercial Papers are rated A1+, the highest rating by CRISIL. The funds will be utilised towards the working capital requirements of Mindspace REIT’s Asset SPVs. Loan to value of Mindspace REIT stood at 16.8% as on September 30, 2022, lowest amongst its peers.

In September this year, capital markets regulator SEBI allowed Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs) to issue Commercial Papers. This welcome move offers an additional short term fund-raise avenue for REITs through shorter tenor instruments at a potentially lower interest cost and swifter timelines.

With this move, Mindspace REIT further broadens its debt profile. At the time of its IPO, in August 2020, 100% borrowings of Mindspace REIT were in the form of Asset SPV level bank borrowings. Over the past two odd years, Mindspace REIT has consciously diversified its lender portfolio and reduced its borrowing costs via multiple fixed-cost debenture issuances which are primarily subscribed by mutual funds, pension funds and insurers.

Mindspace Business Parks REIT is an India-based real estate investment trust (REIT).

Mindspace Business Share Price

477.53 -0.62 (-0.13%)
15-Apr-2026 16:59 View Price Chart
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