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The REIT IPO of Property Share Investment Trust (PSIT), India’s first registered small and medium real estate investment trust, will open for subscription today. The issue will be available for bidding till December 4. Property Share is launching an REIT IPO for PropShare Platina, which is the first scheme under PSIT.
Small and medium REITs are a new asset class regulated by the Sebi as a sub-class within the REIT framework for assets valued between Rs 50-500 crore. The offer proceeds are proposed to be utilized primarily for acquisition of the Prestige Tech Platina asset by the Platina SPVs with the remaining for other general corporate purposes. Property Share SM REIT IPO: Key dates The IPO opened on December 2 and will close on December 4.
The share allotment for the same will be finalised on December 5. The listing date is on December 9. Stock Trading Renko Chart Patterns Made Easy By - Kaushik Akiwatkar, Derivative Trader and Investor View Program Stock Trading Ichimoku Trading Unlocked: Expert Analysis and Strategy By - Dinesh Nagpal, Full Time Trader, Ichimoku & Trading Psychology Expert View Program Stock Trading Options Trading Course For Beginners By - Chetan Panchamia, Options Trader View Program Stock Trading Heikin Ashi Trading Tactics: Master the Art of Trading By - Dinesh Nagpal, Full Time Trader, Ichimoku & Trading Psychology Expert View Program Stock Trading A2Z of Stock Market for Beginners: Stock Market Course For Beginners By - elearnmarkets, Financial Education by StockEdge View Program Stock Trading Algo Trading Made Easy By - Vivek Gadodia, Partner at Dravyaniti Consulting and RBT Algo Systems View Program Stock Trading Derivative Analytics Made Easy By - Vivek Bajaj, Co Founder- Stockedge and Elearnmarkets View Program Stock Trading ROC Made Easy: Master Course for ROC Stock Indicator By - Souradeep Dey, Equity and Commodity Trader, Trainer View Program Stock Trading Market 103: Mastering Trends with RMI and Techno-Funda Insights By - Rohit Srivastava, Founder- Indiacharts.
com View Program Stock Trading Candlesticks Made Easy: Candlestick Pattern Course By - elearnmarkets, Financial Education by StockEdge View Program Stock Trading Dow Theory Made Easy By - Vishal Mehta, Independent Systematic Trader View Program Also Read: IPO Calendar: 3 IPOs, 8 listings to keep primary market busy this week Property Share SM REIT IPO: Price band The price band for the REIT IPO is fixed at Rs 10 lakh to Rs 10.5 lakh per unit. About Property Share SM REIT IPO PropShare Platina comprises 246,935 sf of office space in Prestige Tech Platina, a LEED Gold office building located on Outer Ring Road (ORR), Bangalore.
This property is proposed to be fully leased to a US-based tech company through a fresh 9-year lease with a 4.6 year weighted average lock-in and 15% escalation in rents every 3 years. The scheme offers investors a projected FY26 distribution yield of 9%.
Outer Ring Road is the largest office market in Bangalore with 34% of total office stock as per research by Jones Lang LaSalle and houses offices of various multinationals including Adobe, Amazon, Google, Samsung, CISCO, JP Morgan, Morgan Stanley, Wells Fargo among others. For the first scheme, the investment manager, PropShare Investment Manager has decided to waive off all annual management expenses for FY25 and FY26 and will charge a nominal fee of 0.25% in FY27 and 0.
3% from FY28 onwards. Property Share will also invest a minimum 5% of the units of the scheme or Rs 17.6 crore from its capital into the offering as the IM contribution.
The IPO is entirely a fresh issue of Platina units with no offer for sale component. ICICI Securities is the sole lead manager to the offer and KFin Technologies is the registrar. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own.
These do not represent the views of Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel ).
