Property Share Files For Rs 472 Crore Ipo For India's Second Sm Reit Scheme

Property Share Investment Trust, India's first registered Small and Medium Real Estate Investment Trust (SM REIT), has announced nan motorboat of its 2nd scheme, PropShare Titania, pinch an first nationalist offering (IPO) weighted astatine Rs 472 crore.

The proceeds from this IPO, which features a caller rumor of units, will beryllium chiefly utilized for nan acquisition of a commercialized plus successful Mumbai's G Corp Tech Park. The issue, conducted done nan book building process, allocates 75% of nan nett rumor to organization investors, pinch nan remaining 25% for non-institutional investors.

The finance manager, Property Share Investment Manager Pvt Ltd, has committed to put a minimum of 5% of nan units from its superior into nan scheme. Additionally, each yearly guidance expenses for FY26 person been waived, and a nominal interest of 0.5% will beryllium charged opening FY27. The plus is strategically located connected Ghodbunder Road, Thane, portion of nan Mumbai Metropolitan Region, which is known for its beardown societal infrastructure and upcoming metro connectivity.

Co-founder Kunal Moktan expressed excitement astir nan launch, stating, "After nan occurrence of our first strategy of SM REIT, we are excited to motorboat PropShare Titania. This marks different milestone successful our ngo successful creating a transparent, liquid, and institutional-quality existent property finance level for individual investors. In a volatile equity marketplace environment, rent-yielding commercialized assets for illustration SM REITs are emerging arsenic an replacement finance opportunity for investors."

Co-founder Hashim Khan added, "PropShare Titania continues to connection investors entree to a Grade A+ commercialized plus astatine a cost-effective introduction point. SM REITs are a caller conveyance for existent property assets to beryllium owned and traded, and we are proud to beryllium embarking connected this translator pinch PropShare Titania." This emphasizes nan scheme's entreaty arsenic an affordable introduction into premium existent property investment.

PropShare Titania consists of a 4,37,973 quadrate feet agency space, afloat occupied by varied tenants, including Fortune 500 companies specified arsenic Aditya Birla Capital and Concentrix. The agency space, certified pinch LEED Platinum, WELL Health and Safety, and BEE 5 Star ratings, offers a weighted mean lease expiry of 3.3 years. The tenant agreements see a 5% yearly rental escalation, and investors are projected to person distribution yields of 9.0% for FY26 and FY27, and 9.1% for FY28.

Kotak Mahindra Capital Company Limited serves arsenic nan sole lead head for nan Issue, while KFin Technologies Ltd acts arsenic nan registrar. The ineligible model is supported by Cyril Amarchand Mangaldas and Trilegal, pinch Axis Trustee Services Limited arsenic nan Trustee. The units are expected to beryllium listed connected BSE Limited, offering investors a caller plus people wrong nan REIT framework.

SM REITs, introduced by nan Securities and Exchange Board of India (Sebi), are a burgeoning plus people for properties weighted betwixt Rs 50 and Rs 500 crore. These REITs necessitate that 95% of net beryllium distributed to portion holders, enhancing investor returns. Notably, SM REITs cannot put successful under-construction assets aliases land, ensuring finance successful stable, income-generating properties.