Property Share Investment Trust has recently submitted draft papers to the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) valued at ₹353 crore. This significant move aims to raise capital primarily for the acquisition of the Prestige Tech Platina asset through Platina special purpose vehicles (SPVs). In addition to this, any remaining funds will be allocated for general corporate purposes, highlighting the company’s strategic focus on expanding its real estate portfolio. The Prestige Tech Platina, located in Bengaluru, encompasses 246,935 square feet of LEED Gold-certified office space that is fully leased to a US-based tech company. The asset comes with a favorable nine-year lease agreement, featuring a lock-in period and a structured rent escalation plan.
Property Share 2024
Investors can anticipate a promising distribution yield of 9 percent for FY26, making this IPO an appealing opportunity for those looking to invest in high-quality commercial properties. As India’s first Small and Medium Real Estate Investment Trust (SM REIT) scheme, this offering allows public investors to engage in Grade A commercial property investments starting from ₹10 lakh. With the backing of reputable financial institutions and legal counsel, Property Share is poised to leverage this IPO to solidify its position in the growing real estate market.