Shares of Mindspace Business Parks REIT fell nearly 2%% to ₹359.92 on Tuesday after Abu Dhabi Investment Authority (ADIA) sold its entire 9.2% stake through a block deal. The transaction involved 5.4 crore units at a floor price of ₹350 per unit, marking a discount to the previous close.
Key Highlights:
- Block Deal Value: ₹1,903 crore
- Units Transacted: 5.4 crore (9.2% equity stake)
- Floor Price: ₹350 per unit
- Current Price: ₹359.92, down 1.03%
- Market Cap: ₹212.2 billion
Financial Performance:
Mindspace REIT reported a 5% YoY growth in net operating income (NOI) to ₹503.7 crore for Q2 FY25, with a distribution of ₹305.4 crore for the quarter. The company continues to see momentum in the commercial real estate sector, backed by its office portfolio across Mumbai, Pune, Hyderabad, and Chennai.
Mindspace REIT was listed in August 2020 and owns five integrated business parks and five independent office assets.