ICICI Securities has taken on lease round 1.9 lakh sq. toes of area in Mindspace Juinagar at a month-to-month hire of ₹92.2 lakh, registration paperwork confirmed.
The tenure of the lease is 144 months, ranging from January 1, 2024 and the efficient month-to-month rental fee works out to ₹49 per sq. toes. The hire escalates 4 per cent yearly, based on the paperwork made obtainable by the info analytics agency Propstack.
- Additionally learn: ICICI Securities Q1 PAT dips 1%, revenues surge 18%
The corporate, which supplies a spread of monetary companies proper from funding banking to investments, has taken area on 5 flooring and the terrace of the constructing. Mindspace Juinagar, B3, is an workplace constructing positioned in Navi Mumbai, a part of a 55-acre campus growth and has been developed by Okay Raheja Corp.
The lease has a lock-in interval of 5 years for ICICI Securities, whereas all the time period of the lease is locked in for the owner. The lease additionally consists of using 190 automotive parking slots.
ICICI Securities is within the strategy of being delisted and final month, its mother or father firm, ICICI Financial institution, acquired ‘no objection’ letters from the exchanges for the delisting. The choice to delist its shares was taken in June, with the financial institution saying that it will drive synergies between the 2 firms.
The financial institution at present holds round 75 per cent stake in it and the delisting course of, performed by a share swap, will lead to it changing into a wholly-owned subsidiary.
#ICICI #Securities #leases #lakh #sq. #toes #area #lakhmonth