Property Share Investment Trust IPO opens for subscription: Check price band, lot size, key dates and more

2 min read | Updated on December 02, 2024, 13:44 IST

SUMMARY

Property Share Investment Trust IPO is a fresh issue of Platina units without an offer-for-sale (OFS) component. The issue, which has a price band of ₹10 lakh to ₹10.5 lakh a unit, will conclude on Wednesday, December 4.

PropShare Platina consists of 246,935 square feet of office space in Prestige Tech Platina located in Bengaluru.

Property Share Investment Trust IPO: The REIT initial public offering (IPO) of India's first registered Small & Medium Real Estate Investment Trust (SM REIT) went live on Monday, December 2. The first scheme of ₹352.91 crore initial share sale is PropShare Platina.

The IPO is a fresh issue of Platina units without an offer-for-sale (OFS) component. The issue, which has a price band of ₹10 lakh to ₹10.5 lakh a unit, will conclude on Wednesday, December 4.

The IPO proceeds are intended primarily for acquiring Prestige Tech Platina asset by the Platina special purpose vehicles (SPVs).

Commenting on the IPO, Property Share Director Kunal Moktan said, "We believe SM REITs like PropShare Platina provide investors with an alternative asset class with hybrid returns in the form of regular rental yields and capital appreciation of the underlying real estate."

The company has reserved 75% of the net offer for qualified institutional buyers and 25% for non-institutional investors.

Property Share Investment Trust IPO: Key strengths and risks from RHP you need to know

Property Share REIT IPO: Allotment and listing date

Subscription period: December 2 to December 4
Basis of Allotment: December 5
Refund initiation: December 6
Credit of Shares to Demat: December 6
Listing: December 9

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About PropShare Platina

PropShare Platina consists of 246,935 square feet of office space in LEED Gold-certified office building Prestige Tech Platina located in Bengaluru. This space is proposed to be leased to a US-based tech firm through a new 9-year lease with a weighted average lock-in period of 4.6 years and a 15% rent escalation every three years.

The scheme provides investors with an estimated distribution yet of 9% for the financial year 2025-26 (FY26), 8.7% for the financial year 2027 (FY27) and 8.6% for the financial year 2028 (FY28).

ICICI Securities is the sole lead manager for the offer, while Kfin Technologies is the issue's registrar.

To learn more about IPO listings, schedules, and upcoming IPOs, visit our page.

About The Author

Upstox News Desk is a team of journalists who passionately cover stock markets, economy, commodities, latest business trends, and personal finance.

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Property Share Investment Trust IPO opens for subscription: Check price band, lot size, key dates and more

Property Share REIT IPO: Allotment and listing date

About PropShare Platina

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