IPO Status: Closed [27th Jul 2020 to 29th Jul 2020]
Mindspace Business Parks REIT IPO here presents all the relevant information about the business overview, its strengths, weaknesses, financials, IPO objective, important IPO dates, and others.The Mindspace Business Parks REIT IPO opens on 27th July 2020 and closes on 29th July 2020 (Tentative).
Mindspace Business Parks REIT is a real estate investment trust backed by K Raheja Corp (KRC) and a private equity firm – Blackstone. It is one of India’s largest Grade-A office portfolios company that has many quality portfolios across major office markets. Mindspace REIT’s product portfolio is expanded across 4 key regions including Pune, Hyderabad, Mumbai region, and Chennai that accounts overall 62.3% of the total Grade-A offices.
The company is primarily engaged in pro-active property management, building construction, assets improvement, and tenant engagement. It generates contractual revenues from leasing or renting its properties to tenants. Mindspace REIT has a large tenant base covering leading MNCs and Fortune 500 companies. Some of its major clients are Accenture, Qualcomm, JP Morgan, Amazon, Schlumberger, UBS, Capgemini, Facebook, Barclays, and others. It further has 5 well-integrated office parks embedded with advanced infrastructure and all the amenities i.e. restaurants, outdoor sports, etc. and also have 5 independent quality offices.
The aim of the business is to offer a community-based ecosystem to satisfy the demand of new-age businesses therefore, it is one of the topmost choices of domestic as well as multinational corporations. It has also taken many sustainability initiatives such as clean energy, recycling, and others to provide a sustainable environment to tenants. Well-diversified and well-positioned portfolio enable the firm to achieve further growth through lease-up vacant space, re-leasing of market rents, contractual rent escalation, and others.
Mindspace Madhapur and Mindspace Airoli East are the largest projects in its portfolio markets. Mindspace REIT has been recognized with many awards and accolades such as Best Environment-Friendly Office Space, Best Commercial Project of the Year, and 5-star rating by British Safety Council along with the Best Sustainable Project award for Midspace Airoli project in Navi Mumbai.Real Estate Investment Trust (REIT) Details Explained
REIT is a new investment category in Equity Market, as this kind of investment is available in Mutual Funds and National Pension System (NPS) . Retail investors can get exposure for REIT in past but not directly.
Still SEBI don’t want to give retails investor to take a risk in REIT space directly so when REIT goes public, there is no retail or RII category. Retail investors can invest via NII category with minimum of 1 lot worth of Rs 55,000.
The net proceeds from the Mindspace REIT IPO will be used for the following purposes;
Mindspace REIT IPO details includes issue size, issue price, discount information, minimum and maximum order quantity, promoters holding details, NSE and BSE code.
|Mindspace REIT Issue Details||Values|
|IPO Issue Type||Book Built Issue IPO|
|IPO Issue Size||₹4,500 Cr.|
|Offer for Sale||₹3,500 Cr.|
|Fresh Issue||₹1,000 Cr.|
|Face Value||10 Per Equity Share|
|IPO Issue Price||₹274-₹275|
|Min Order Qty||200|
|Max Retail Qty||NA|
|Promoter Holding Pre IPO||TBD|
|Promoter Holding Post IPO||TBD|
|IPO Listing At||BSE, NSE|
The table below is live update of IPO bidding details from NSE and BSE.
|36,952,600||30,793,800||67,746,400||1||27th Jul 2020 17:02||0.37x||0.26x||0.33x||2||28th Jul 2020 17:02||0.83x||1.64x||1.23x||3||29th Jul 2020 17:02||10.61x||15.51x||12.96x|
Past performance and financial results of Mindspace REIT.
|Mindspace REIT IPO Financials||31-Mar-2020||31-Mar-2019||31-Mar-2018|
|Total Assets||₹11,222.5 Cr.||₹9,143.7 Cr.||₹8,473.8 Cr.|
|Total Revenue||₹2,026.2 Cr.||₹1,679.7 Cr.||₹1,502.2 Cr.|
|Net Profit/Loss||₹513.9 Cr.||₹515.4 Cr.||₹161.0 Cr.|
In this section we have covered all imporatant dates related to Mindspace REIT IPO. Dates are updated as they are announced. The most noted dates are IPO start date and IPO end date, which one should use to participate in IPO.
|IPO Issue Open Date||27th Jul 2020|
|IPO Issue Close Date||29th Jul 2020|
|Basis of Allotment Finalisation Date*||6th Aug 2020|
|Refunds Initiation*||7th Aug 2020|
|Credit of Shares to Demat Account*||7th Aug 2020|
|IPO Listing Date*||12th Aug 2020|
* - Tentative Dates
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Mindspace REIT IPO Draft Prospectus >>Document
Mindspace REIT IPO Red Herring Prospectus >>Document
Mindspace REIT IPO Allotment Status >>Link
Last Updated on 2020-08-04T23:12:39+00:00
Zerodha allows to apply online in IPOs via their back office software "console". UPI payment mode is to be used to apply online through Zerodha. However, Mindspace REIT IPO case is bit different. As this is REIT, only QIB and NII category (HNI) can apply in this IPO. No quota is allocated for retail investor as lot size is very high.
In such case you have left with only option of ASBA. To purchase Mindspace REIT IPO with Zerodha you need to use net banking and apply with ASBA process. You need to use Zerodha Demat Account detail so after allotement, you will get shares in your Zerodha demat account.
Steps to apply in Mindspace REIT through Zerodha
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To subscribe or apply in Mindspace REIT IPO, you can use the following methods:
|Mindspace REIT IPO Applying Mode||Method||Details|
|Online Application||3-in-1 Trading Account|
If your broker is 3-in-1 service provider, you can apply in Mindspace REIT IPO directly with your brokers website. Example HDFC Securities, ICICI Direct, AxisDirect are 3-in-1 brokers provide you direct IPO investment.
|Online Application||2-in-1 Trading Account|
Brokers like Zerodha, TradeSmart Online provides access to applying in Mindspace REIT IPO with their in-house developed platform. You need to apply in IPO via UPI payment method. You must have access of your UPI mandate to apply in IPO online.
This is one of the most popular mode of applying in Mindspace REIT IPO. Most of the Syndicate Banks provide access to apply in Mindspace REIT IPO via ASBA process. You must have your net banking access, DP ID information to apply in Mindspace REIT IPO via ASBA. Bank like Axis, SBI allows you to apply maximum 5 application from one bank account. However, ICICI, HDFC bank have limit of one IPO ASBA application per account.
|Offline Application||Physical Form|
You can apply in Mindspace REIT IPO via physical form, but not with ASBA. Physical Forms need to be filled using UPI mode of payment and need to approve the mandate of UPI with your registered phone number with your UPI provider. You can use BHIM app or banks mobile app who support UPI process like SBI, HSBC, Axis, ICICI, HDFC, Yes Bank, Citi Bank mobile app.
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Applying in Mindspace REIT IPO is very easy and quick process via ASBA. You can use your net banking user id and password to apply in IPO. In case you want to submit physical application, you can download Mindspace REIT IPO application online and submit to the nearest bank or to your broker. With new mandate from SEBI, all physical application need to use UPI mode of payment. In such case you have to setup UPI and provide your UPI information in physical application. Once your bank receives your application they will use UPI ID to block your money. You will get UPI mandate and need to approve the same to submit your application.
For more details on how to use UPI payment method to apply Mindspace REIT IPO, please refer article >> Link
Steps to download the online application form for Mindspace REIT IPO
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Mindspace REIT IPO is going to be list on 12-08-2020.
Other relevant questions:When Mindspace REIT IPO will be listing? Mindspace REIT IPO listing date?Mindspace REIT IPO date of listing
Mindspace REIT IPO is a special category and there is no specific Retail category. Only QIB and Other investor’s (NII) category is open for this IPO. The price for the investor is ₹274-₹275. The lot size is 200 and multiple of 200 units thereafter. Retail Investors need to apply min 1 lots which is 200 share worth of ₹55,000 .
Mindspace REIT IPO lot size for investor is 200. As this is a special category, retail investor need to apply via NII path. Minimum investment is required 1 lots worth of Rs 55,000. Shares of REIT will trade in . SEBI change its guidelines for REIT from Min 1 lakh to 50,000 in 2019. With that investor can apply in 1 lot worth of 55,000 Rs.
Other relevant questions:Mindspace REIT IPO lot details? Mindspace REIT IPO market lot? Mindspace REIT IPO details lot size?
To apply in one application of Mindspace REIT IPO you need ₹274-₹275(Issue Price) - X 200 (Minimum Order Qty) =₹55000.
There is no limit for Retail investors under Mindspace REIT IPO. As you are going to apply via the NII process. The minimum lot is 1 which is 55,000 Rs, you can apply as many lots as you want.