MINDSPACE

Jan 17 (Reuters) - Mindspace Business Parks REIT MINS.NS:

• APPROVES ISSUANCE OF NCDS WORTH UPTO 5.7 BILLION RUPEES

Source text: ID:nBSEcfHjWJ

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MUMBAI, Nov 22 (Reuters) - India's Mindspace Business Parks REIT MINS.NS plans to raise 5 billion rupees ($59.2 million) through the sale of bonds maturing in three years and two months, three merchant bankers said on Friday.

The company has invited bids from bankers and investors for the issue on Monday, they said.

The company did not immediately reply to a Reuters email seeking comment.

Here is the list of deals reported so far on Nov. 22

*Size includes base plus greenshoe for some issues

($1 = 84.4925 Indian rupees)

(Reporting by Dharamraj Dhutia
Editing by Eileen Soreng)

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Sept 25 (Reuters) - Mindspace Business Parks REIT MINS.NS:

• MINDSPACE BUSINESS PARKS REIT - PARTNERSHIP WITH PRINCETON DIGITAL GROUP

• MINDSPACE BUSINESS PARKS REIT - PARTNERSHIP TO DEVELOP DATA CENTER CAMPUS IN INDIA

Source text for Eikon: ID:nBSEb36Y1v

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MUMBAI, June 19 (Reuters) - A summary of primary bond market deals in India as of 6:00 p.m. IST (1230 GMT) on June 19. Please note that the list includes deals reported by Reuters, and is not exhaustive.

*Size includes base plus greenshoe for some issues

(Reporting by Bhakti Tambe)

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MUMBAI, May 10 (Reuters) - India's Mindspace Business Parks REIT MINS.NS has accepted bids worth 4.75 billion rupees ($56.89 million) for bonds maturing in five years, three merchant bankers said on Friday.

It had invited coupon and commitment bids for the issue earlier in the day, they said.

Here is the list of deals reported so far on May 10:

*Size includes base plus greenshoe for some issues

($1 = 83.5000 Indian rupees)

(Reporting by Bhakti Tambe)

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MUMBAI, May 2 (Reuters) - India's Mindspace Business Parks REIT MINS.NS plans to raise 5 billion rupees ($59.90 million) through sale of bonds maturing in five years, three merchant bankers said on Thursday.

The company has invited bids from bankers and investors on May 10, they said.

Here is the list of deals reported so far on May 2:

*Size includes base plus greenshoe for some issues

($1 = 83.4691 Indian rupees)

(Reporting by Dharamraj Dhutia
Editing by Eileen Soreng)

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April 30 (Reuters) - Mindspace Business Parks REIT MINS.NS:

• APPROVED FUNDRAISE UPTO 5 BILLION RUPEES

Source text for Eikon: ID:nBSE1Ky7VR

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March 21 (Reuters) - Mindspace Business Parks REIT MINS.NS:

• MANAGER OF CO APPROVED ISSUE OF NON-CONVERTIBLE DEBT SECURITIES AND/COMMERCIAL PAPERS FOR UP TO 25 BILLION RUPEES

• MANAGER OF CO APPROVED RAISING FUNDS BY MINDSPACE REIT VIA ISSUE OF NON-CONVERTIBLE DEBENTURES FOR 3.4 BILLION RUPEES

Source text for Eikon: ID:nNSE2J9PdM

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** Leasing demand from global captives to continue for India's Mindspace Business Parks REIT MINS.NS while that from IT likely to be sluggish for two years, says brokerage Ambit Capital

** MINS closed up 0.8%

** Adds occupancy in projects in non-Special Economic Zones (SEZ) has reached pre-Covid levels, SEZ vacancies near Mumbai expected to be leased in upto 2.5 years

** Co committed to secure tenants at earliest opportunity even at a discount leasing of 2 rupees-3 rupees per square feet - note

** Organic rev generation potential ranging between 6 bln rupees ($72.4 million) to 7 bln rupees expected in next 3-4 years - note

** Among real estate investment trusts, average analyst rating on MINS, rival Embassy Office Parks EMBA.NS is "buy" while Brookfield India BROF.NS is "strong buy" - LSEG data

** YTD MINS up 5.4%, BROF gains 4.2% while EMBA jumps ~22%

($1 = 82.8655 Indian rupees)

(Reporting by Hritam Mukherjee in Bengaluru)

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Jan 29 (Reuters) - Mindspace Business Parks REIT MINS.NS:

• APPROVED DISTRIBUTION OF 4.80 RUPEES PER UNIT

• APPROVED ACQUISITION OF UNITS IN COMMERZONE YERWADA PARK BY MINDSPACE BUSINESS PARKS FOR 410 MILLION RUPEES

Source text for Eikon: ID:nNSE5xc4BQ

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** India's residential sales to see an about 20% growth after a strong 2023, says Jefferies

** There is significant headroom for volumes to rise in medium term

** Special Economic Zone rules amendment for real estate investment trusts (REITs) have resulted in leasing uptick for office in late 2023 - Jefferies

** Relaxation in SEZ rules should drive improved flexibility for large-office holders; upgrades Mindspace Business Parks REIT MINS.NS to "buy" from "hold"

** Downgrades Prestige Estate Projects PREG.NS to "underperform" from "hold"; sees accelerated project investments requirements, given limited land bank as a key overhang on higher multiples

** Jefferies says weak P&L, lesser clarity on potential land bank could limit upside for Sobha SOBH.NS, downgrades to "hold" from "buy"

** Nifty realty index .NIFTYREAL rose 81.3% in 2023

(Reporting by Anisha Ajith in Bengaluru)

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By Hritam Mukherjee and Anisha Ajith

BENGALURU, Dec 14 (Reuters) - India's largest real estate investment trust (REIT) Embassy Office Parks EMBA.NS expects the government's easing of regulation for special economic zones (SEZ) to boost its finances from the fiscal year starting April 2024.

Last week, India allowed developers to strip vacant floors in SEZs off the status and lease them to non-SEZ entities. SEZs, set up in 2005, were aimed at incentivising export-oriented companies but lost their allure to new entrants after tax holiday ended in 2020.

While the proportion of revenue Embassy generates from its SEZ properties was not immediately clear from its earnings reports, analysts at brokerage Investec said last week that Embassy has about 55%-60% of its portfolio in SEZs.

"We expect benefits to start showing on our financials from the first half of FY25," Embassy Office Parks CEO Aravind Maiya told Reuters on Tuesday.

"Once we get more clarity on the process and timeline involved in the floor-wise demarcation of vacant SEZ spaces, which is expected in the coming few weeks, we can start leasing out from around March next year."

Embassy, which has business parks at SEZs in Bengaluru and Noida, saw its consolidated profit fall 46% to 236.8 million rupees ($2.84 million) in the September quarter, while its revenue grew about 4%.

The office landlord has seen its SEZ occupancy levels decline from 94% at 2019-end to 80% by September this year.

Meanwhile, the share of leasing for SEZ spaces in overall office leasing has dropped from 22% in 2019 to 7% between January and September this year, data from real estate consultancy Colliers showed.

Analysts expect the recent easing of SEZ rules to benefit commercial realty players who own properties in SEZs.

Embassy's peers Brookfield India Real Estate Trust REIT BROF.NS, Mindspace Business Parks REIT MINS.NS and DLF DLF.NS, who will also potentially benefit from the change in regulation, did not reply to Reuters' requests for comments.

($1 = 83.3238 Indian rupees)

(Reporting by Hritam Mukherjee and Anisha Ajith in Bengaluru; Editing by Varun H K and Mrigank Dhaniwala)

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MUMBAI, Sept 8 (Reuters) - India's Mindspace Business Parks REIT MINS.NS has accepted bids worth 5 billion rupees ($60.13 million) for bonds maturing in three years and three months, three merchant bankers said on Friday.

The company will pay an annual coupon of 8.03% and had invited bids from bankers and investors earlier in the day, they said. In June, the company raised 5 billion rupees via bonds maturing in three years and one month at a coupon of 7.75%.

Here is the list of deals reported so far on Sept. 8

*Size includes base plus greenshoe for some issues

($1 = 83.1550 Indian rupees)

(Reporting by Dharamraj Dhutia
Editing by Sonia Cheema)

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MUMBAI, Sept 7 (Reuters) - India's Mindspace Business Parks REIT MINS.NS plans to raise 5 billion rupees ($60.14 million)through bonds maturing in three years and three months, three merchant bankers said on Thursday.

The company has invited bids from bankers and investors on Friday, they said. In June, the company raised 5 billion rupees via bonds maturing in three years and one month at a coupon of 7.75%.

Here is the list of deals reported so far on Sept. 7

*Size includes base plus greenshoe for some issues

($1 = 83.1375 Indian rupees)

(Reporting by Bhakti Tambe and Dharamraj Dhutia; Editing by Janane Venkatraman)

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Aug 24 (Reuters) - Mindspace Business Parks REIT MINS.NS:

• TO CONSIDER RAISING OF FUNDS

• TO CONSIDER FUND RAISE VIA ISSUE OF NON-CONVERTIBLE DEBENTURES UP TO 5 BILLION RUPEES

Source text for Eikon: ID:nBSE1lBsc2

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Aug 8 (Reuters) - Mindspace Business Parks REIT MINS.NS:

• APPOINTS RAMESH NAIR AS CEO

Source text for Eikon: [ID:]

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Aug 7 (Reuters) - Mindspace Business Parks REIT MINS.NS:

• VINOD ROHIRA RESIGNS AS CEO

• RAMESH NAIR NAMED CEO

Source text for Eikon: ID:nBSEDbn96

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July 25 (Reuters) - Mindspace Business Parks REIT MINS.NS:

• APPROVED PROPOSED ACQUISITION OF LEASABLE AREA ADMEASURING ABOUT 0.24 MILLION SQ.FT

• INDIA'S MINDSPACE BUSINESS PARKS REIT JUNE-QUARTER CONSOL NET PROFIT 1.28 BILLION RUPEES VERSUS PROFIT 1.18 BILLION RUPEES

• MINDSPACE BUSINESS PARKS REIT JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 5.9 BILLION RUPEES VERSUS 4.81 BILLION RUPEES

Source text for Eikon: ID:nBSE7g82Yd

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MUMBAI, June 1 (Reuters) - India's Mindspace Business Parks REIT MINS.NS has accepted bids worth 5 billion rupees ($60.6 million) for bonds maturing in three years and one month, three merchant bankers said on Thursday.

The company will pay a coupon of 7.75% on this bond issue. In March, the company had raised 5.50 billion rupees through bonds maturing in three years and one month at a coupon of 8.02%.

Below is the list of deals reported so far on June 1:

*Size includes base plus greenshoe for some issuances

($1 = 82.5000 Indian rupees)

(Reporting by Dharamraj Dhutia and Bhakti Tambe
Editing by Eileen Soreng)

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MUMBAI, May 31 (Reuters) - India's Mindspace Business Parks REIT MINS.NS plans to raise 5 billion rupees ($60.45 million) through bonds maturing in three years and one month, three merchant bankers said.

The company will pay a coupon of 7.75% on this bond issue. In March, the company had raised 5.50 billion rupees through bonds maturing in three years and one month at a coupon of 8.02%.

Below is the list of deals reported so far on May 31:

*Size includes base plus greenshoe for some issuances

($1 = 82.7100 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Varun H K)

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May 24 (Reuters) - Mindspace Business Parks REIT MINS.NS:

• TO RAISE FUNDS VIA ISSUE OF NON-CONVERTIBLE DEBENTURES WORTH UP TO 5 BILLION RUPEES

Source text for Eikon: ID:nNSE7PhGnS

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May 4 (Reuters) - Mindspace Business Parks REIT MINS.NS:

• INDIA'S MINDSPACE BUSINESS PARKS REIT MARCH-QUARTER CONSOL NET LOSS 292 MILLION RUPEES VERSUS PROFIT 1.26 BILLION RUPEES

• MINDSPACE BUSINESS PARKS REIT MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 5.67 BILLION RUPEES VERSUS 4.67 BILLION RUPEES

Source text for Eikon: [ID:]

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