Report
EUR 86.33
For Business Accounts Only
MBP will own one of the largest Grade-A office portfolios in India with a total leasable area of 29.5 msf. Its portfolio comprises 19.8 msf of completed, 6.1 msf of under construction and 3.6 msf of future development area, as of Jun 2019.
MBP’s portfolio contained five integrated business parks and five independent offices across four cities, Mumbai, Hyderabad, Pune and Chennai.
The portfolio has shown decent growth in the past and has multiple levers to help it to continue growing, like increased completions, rental reversions and acquisitions.
However, not all of the assets in the portfolio are so called prime assets, with its largest Mumbai assets being located far away from the CBD. In addition, not all the assets have been performing well either.
Mindspace Business Parks REIT Pre-IPO - Decent growth but not all assets are equal
Mindspace Business Park REIT (MBP) aims to raise around US$500m via a mix of selling primary and secondary shares in its Indian IPO.MBP will own one of the largest Grade-A office portfolios in India with a total leasable area of 29.5 msf. Its portfolio comprises 19.8 msf of completed, 6.1 msf of under construction and 3.6 msf of future development area, as of Jun 2019.
MBP’s portfolio contained five integrated business parks and five independent offices across four cities, Mumbai, Hyderabad, Pune and Chennai.
The portfolio has shown decent growth in the past and has multiple levers to help it to continue growing, like increased completions, rental reversions and acquisitions.
However, not all of the assets in the portfolio are so called prime assets, with its largest Mumbai assets being located far away from the CBD. In addition, not all the assets have been performing well either.
Provider
Aequitas Research
Aequitas Research is a leading ECM research firm with a focus on IPOs and placements/follow-on offerings across the Asia Pacific with deal size of over USD100m.
Since 2015, we have covered 400+ IPOs and 450+ placements with a hit rate of 73% and 65%, respectively. We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic analysis.
Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis. We also provide a more quant driven analysis on placement/follow-on offerings.
Markets that we cover include:
Hong Kong,
China ADRs,
India,
Japan,
Australia, and
ASEAN.
Hong Kong,
China ADRs,
India,
Japan,
Australia, and
ASEAN.
Sumeet Singh
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