Shardul Amarchand Mangaldas advises Mindspace Business Parks REIT and The Blackstone Group L.P

August 28, 2020

Shardul Amarchand Mangaldas & Co (SAM & Co) advised Mindspace Business Parks REIT and The Blackstone Group L.P in the initial offer of 163,636,200 units of Mindspace REIT. The deal is valued at USD 601.36 million (approx.). The date of closing was 4 August 2020.

This is the second IPO by a REIT in India and the largest global REIT IPO completed this year, despite unique challenges due to lockdown since March, 2020, where the intermediaries and the Issuer officials worked from home. The Offer was oversubscribed ~13 times despite volatile market conditions, with strong investor participation.

SAM & Co. acted as the Indian Legal Counsel to Mindspace REIT, the Manager, the Sponsors and the KRC Selling Unitholders. Various teams involved were : Capital Markets team led by Nikhil Naredi, Partner; Mathew Thomas, Principal Associate; Aditi Verma, Associate; Aditya Iyer, Associate; Oindree Bandyopadhyay, Associate; Unnati Kotadia, Associate; Devesh Khara, Senior Associate and Sowmya Padmanabhan, Associate; General Corporate and Funds team led by Jay Gandhi, Partner, Abhishek Parekh, Principal Associate; Vinit Patwari, Senior Associate and Akshath Vidyanath, Associate; Banking and Finance led by Shilpa Mankar Ahluwalia, Partner; Akshita Agrawal, Senior Associate and Himanshu Malhotra, Associate; Competition team was led by Gauri Chhabra, Partner; Kajori De, Associate; Sagarika Parab, Associate and Saumya Raizada, Associate;