Mindspace REIT Announces ₹650 Crore Sustainability Linked Bond Issuance
| Aspect | Details |
|---|---|
| Entity | Mindspace Business Parks REIT |
| Sponsored by | K Raheja Group |
| Portfolio Size | 33.2 million square feet (26.3 million square feet completed area) |
| Bond Issuance | ₹650 crore Sustainability Linked Bond |
| Bond Subscriber | International Finance Corporation (IFC) |
| Bond Tenure | 7 years |
| Coupon Type | Fixed, with stepped-down structure based on ESG target achievement |
| ESG Targets | - Reduction in GHG emissions (Scope 1, 2, and 3) - Increase in green-certified area - Reduction in energy intensity |
| Previous Milestone | Issued maiden green bond in March 2023 |
| Recent Collaboration | Partnership with IIT Bombay for Climate Risk Assessment (January 2024) |
| Pilot Project | On-site weather stations at Mindspace Airoli West, Mumbai Metropolitan Region |
| Purpose | Build sustainable ecosystems, create long-term value for stakeholders |
| **Alignment with National Goals | Supports India's net-zero ambitions |
| CEO | Ramesh Nair |