Today marks a big day for investors as Property Share Investment Trust (PSIT), India’s first small and medium real estate investment trust (REIT), opens its IPO for subscription. The IPO will be available for bidding until December 4.
This IPO is for a property called PropShare Platina, which is the first plan under PSIT. Small and medium REITs are a new investment option regulated by SEBI, meant for properties valued between ₹50-500 crore.
The funds raised from this IPO will mainly help buy a property named Prestige Tech Platina and will also be used for general business expenses.
Key Dates
– IPO Opens: December 2
– IPO Closes: December 4
– Share Allotment Date: December 5
– Listing Date: December 9
Price Range
You can purchase units in this REIT at a price between ₹10 lakh to ₹10.5 lakh.
About PropShare Platina
PropShare Platina includes 246,935 square feet of office space in a premier building located on the Outer Ring Road (ORR) in Bangalore, which has received a LEED Gold certification. The building is expected to be fully rented to a US tech company for 9 years, with rent increasing by 15% every three years.
The scheme offers investors a projected return of 9% in FY26. The Outer Ring Road is a prime office location in Bangalore, hosting companies like Adobe, Amazon, Google, and many more.
For this scheme, the investment manager, PropShare Investment Manager, is waiving all management fees for FY25 and FY26, charging just a small fee in later years. Additionally, Property Share will invest Rs 17.6 crore—about 5% of the offering—from its own funds.
This IPO is only a fresh issue of Platina units with no existing shares being sold.
ICICI Securities is leading the offer, while KFin Technologies is in charge of managing the subscription process.
(Disclaimer: The opinions shared here are based on expert views and do not reflect the views of Niftystat.)
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