Mindspace REIT: ICRA reaffirms AAA (Stable), assigns AAA to proposed ₹1,200 crore NCD
Mindspace Business Parks REIT · Realty
Key highlights
- ICRA reaffirmed the issuer rating and eight existing NCD lines totalling ₹7,650 crore at [ICRA]AAA (Stable); the proposed ₹190 crore NCD was also reaffirmed at the same rating.
- ICRA assigned [ICRA]AAA (Stable) to a new proposed NCD of ₹1,200 crore, and reaffirmed the ₹2,500 crore commercial paper programme at [ICRA]A1+.
- Total rated amount is ₹11,540 crore, up from ₹10,340 crore, per the ICRA rationale dated March 18, 2026.
Why it's rated notable: the amount is 337% of annual revenue (50% or more)
Figures checked against the filing by a second AI read, which corrected the first summary. About the business, not the share price.
Original filing
Reg 23(5)(d): Disclosure of details of any credit rating obtained by the REIT and any change in such rating
Read the filing on BSE (PDF) →Companies guiding to strong growth
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More from Mindspace Business Parks REIT
- Fundraise / allotmentNotableMindspace Business Parks REIT issues ₹500 crore non-convertible debentures
- Fundraise / allotmentNotableMindspace Business Parks REIT issues ₹600 crore rated non-convertible debentures
- Fundraise / allotmentNotableK Raheja Corp Investment Managers approves fund raise up to ₹17,100 crore for Mindspace REIT
- Acquisition / mergerNotableMindspace REIT completes acquisition of 51% stake in Radial IT Park Private Limited
- Fundraise / allotmentNotableMindspace Business Parks REIT shares post preferential allotment holding pattern disclosed
Other fundraise / allotment filings this fortnight
- Supreme Engineering allots 14,50,00,000 warrants at ₹2.60 on preferential basis
- Bajaj Finance Limited allots 5.74 crore warrants to Bajaj Finserv on 10 Nov 2026
- Bajaj Finance approves preferential issue of 5.74 crore warrants to Bajaj Finserv
- Chaman Metallics Limited announces H1 FY27 financial results and proposed Rights Issue
- Harmony Capital Services receives BSE approval for preferential issue of shares
- Kuber Udyog: open offer corrigendum, allotments of shares and warrants at ₹23.10
Potential multibaggers · Q2 FY27
Potential multibaggers in Realty
on management's own guidance
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Summary written by Arthneeti from the company's filing with the stock exchange; check the original filing for full details. Arthneeti is a research and analytics platform, not a SEBI-registered investment adviser, and nothing here is a recommendation to buy or sell.