India's Mindspace REIT hits a roadblock after budget proposal

The initial public offering of Mindspace Business Park REIT slated for March has hit a roadblock after the Union budget proposed to tax dividends at the receiver’s end, two people aware of the development said. The REIT was expected to raise ₹1,000 crore by selling new shares, while existing shareholders K. Raheja Corp. and Blackstone were to offload some of their shareholding.