Mindspace Business Parks REIT approves acquisition of ~0.24 million sq.ft at Commerzone Porur project

The Board of Directors ("Board") of K Raheja Corp Investment Managers Private Limited ("Manager"), Manager to Mindspace Business Parks REIT ("Mindspace REIT") at its meeting held on July 25, 2023, has, approved proposed acquisition of leasable area admeasuring ~0.24 million sq.ft and proportionate car parking spaces, common areas, amenities and services from RPIL Signalling Systems Ltd.'s ("RPIL") at Commerzone Porur Project, situated at Porur Village, Maduravoyal Taluk (formerly Ambattur Taluk), Thiruvallur District, Chennai- 600 116 together with the underlying 22% undivided right, title and interest in the land admeasuring approx. 5 Acres and 54 Cents or thereabouts equivalent to 22,425.13 square metres or thereabouts, for a consideration and other terms and conditions to be negotiated and finalised between the parties. Horizonview Properties Private Limited, Asset SPV of Mindspace REIT, is entitled to 78% of the Commerzone Porur Project.

Shares of Mindspace Business Parks REIT was last trading in BSE at Rs. 303.07 as compared to the previous close of Rs. 302.94. The total number of shares traded during the day was 6440 in over 578 trades.

The stock hit an intraday high of Rs. 304.95 and intraday low of 302.60. The net turnover during the day was Rs. 1957052.00.

Source : Equity Bulls

Keywords

MindspaceBusinessParksREIT InvIT INE0CCU25019 MINDSPACE Acquisition CommerzonePorurProject