Other Deals - Listed Firms
Chandru Raheja sells 1.49% stake in Mindspace REIT for Rs.500-Cr
Chandru Lachmandas Raheja, chairman of K Raheja Corp, has divested a 1.49% stake in the Mumbai-based Mindspace Business Parks REIT for INR 500 crore. The transaction was executed on the BSE through a bulk deal, involving the sale of 9,900,990 units at an average price of INR 505 per unit.Mindspace Business Parks REIT is a real estate investment trust that manages 36 million sq ft of completed area, along with 6.6 million square feet under construction and 3.6 million square feet for future development. The trust provides integrated business parks, office buildings, and data centers across Mumbai, Hyderabad, Pune, and Chennai. The REIT is sponsored by Anbee Constructions and Cape Trading, both entities within the K Raheja Corp Group.K Raheja Corp maintains a presence in the commercial real estate sector. The group previously listed its commercial properties through the REIT in 2020, in a co-ownership arrangement with the private equity firm Blackstone.
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