PropShare Platina REIT Crowned Most Expensive Share in India Surpassing Elcid Investment

Following its debut on December 10, PropShare Platina REIT has quickly surpassed Elcid Investments to become the most expensive security available for trade. On its first trading day, PropShare Platina share price closed at an impressive ₹10.45 lakh per unit, after debuting at ₹10.5 lakh per unit on the BSE. On December 12, 2024, PropShare Platina REIT settled at ₹10,35,001.00 per unit with a fall of 0.96% from the previous close.

The previous most expensive stock Elcid Investment share closed at ₹1,97,404.90, down 4.93% on December 12, 2024.

PropShare Platina REIT: The Newest SM REIT

PropShare Platina REIT is the first company to receive the SM REIT license after the Securities and Exchange Board of India (SEBI) introduced the SM REIT regulations in March 2024. This milestone marks a significant development in the REIT market and is expected to attract further attention from investors.

PropShare Platina REIT’s initial issue, worth ₹353 crore, was open for subscription from December 2 to December 4. The offering received a strong response, being subscribed 1.19 times, indicating strong investor confidence in the venture.

Premium Office Space in Bangalore

The REIT holds 2,46,935 square feet of office space within Prestige Tech Platina, a LEED Gold-certified building located on the Outer Ring Road (ORR) in Bangalore. Developed by the Prestige Group, this property is set to be fully leased to a US-based technology company under a newly signed 9-year lease agreement.

Attractive Distribution Yields for Investors

PropShare Platina REIT offers investors attractive projected distribution yields: 9.0 % for FY26, 8.7 % for FY27, and 8.6 % for FY28. These yields present a compelling opportunity for those seeking steady returns from a stable real estate asset.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.