IPO Details
Bidding Dates
02 Dec '24 - 04 Dec '24
Minimum Investment
To be announced
Price Range
To be announced
Maximum Investment
To be announced
Retail Discount
To be announced
Issue Size
₹352.91 crore
Investor category and sub category
Retail Individual Investors (RII) | Non-institutional Investors (NII) | Qualified Institutional Buyers (QIB) | eligible employees |Property Share REIT IPO Dates
Important dates with respect to IPO allotment and listing
IPO Opening Date
Dec 2, 2024
IPO Closing Date
Dec 4, 2024
Basis of Allotment
Dec 5, 2024
Initiation of Refunds
Dec 6, 2024
Listing Date
Dec 9, 2024
About Property Share REIT IPO
The Property Share REIT IPO is a book-built issue aiming to raise ₹24.70 crore through a fresh issue of 19 lakh equity shares. The Property Share REIT IPO is open for subscription from December 26, 2024 to December 28, 2024, with the allotment finalisation scheduled for December 29, 2024. The shares are expected to be listed on the NSE SME platform on December 3, 2024.
The price band for the issue is set at ₹123 to ₹130 per share. Investors can apply in a minimum lot size of 1,000 shares, requiring a retail investment of at least ₹1,30,000. High Net-Worth Individuals (HNIs) must apply for a minimum of 2 lots (2,000 shares), amounting to ₹2,60,000.
GYR Capital Advisors Private Limited is the book-running lead manager, with Maashitla Securities Private Limited serving as the registrar. Giriraj Stock Broking acts as the market maker for the IPO.
Industry Outlook
- The number of listed REITs worldwide surged from 120 in 1992 to 893 across 40+ countries in 2022, reflecting REITs’ growing global popularity.
- India’s REIT market, representing only 13.7% (₹29,272 crore) of listed real estate, highlights vast untapped potential compared to the US (98.9%) and Australia (94.8%).
Property Share REIT IPO Objectives
The company plans to allocate the net proceeds from the issuance to the following purposes:
- The acquisition of Project Platina by Platina SPVs involves commercial office spaces and reimbursement of statutory charges (e.g., stamp duty, registration). This will be facilitated through lending to Platina SPVs and subscribing to their equity and debt instruments.
- General Purposes.
About Property Share Investment Trust REIT
Incorporated in June 2024, Property Share Investment Trust is a SEBI-registered small and medium real estate investment trust (REIT). The Trust’s initial scheme, PropShare Platina, operates under a robust structure with six wholly-owned Special Purpose Vehicles (SPVs) in compliance with the REIT Regulations.
The Trustee of Property Share Investment Trust is Axis Trustee Services Limited, a renowned entity in the domestic market offering diverse trustee and financial services. These services include acting as a debenture trustee, security trustee, facility agent, escrow agency, and provider of custody services. Additionally, Axis Trustee Services oversees trust and retention accounts, acts as a securitisation trustee, share monitoring trustee, and lender repayment trustee, and provides digital escrow agency services. The Trustee also administers REITs, Infrastructure Investment Trusts (InvITs), Alternative Investment Funds (AIFs), family trusts, and more.
With its comprehensive expertise and diversified service portfolio, Property Share Investment Trust is poised to establish itself as a key player in India's REIT sector.
How To Check the Allotment Status of the Property Share REIT IPO?
A: Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app.
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
How to apply for Property Share REIT IPO online?
- Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
- Locate the IPO Section: Navigate to the 'IPO' section on the platform.
- Select IPO: Find and select the Property Share REIT IPO from the list of open IPOs.
- Enter the Lot Size: Specify the number of lots you want to bid for.
- Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
- Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.
Property Share REIT IPO Reservation
|
Investor Category |
Shares Offered |
|
QIB Shares Offered |
Not more than 75.00% of the Net offer |
|
NII (HNI) Shares Offered |
Not less than 25.00% of the Net Issue |
Property Share REIT IPO Prospectus
Property Share REIT IPO Registrar and Lead Managers
Property Share REIT IPO Lead Managers:
- ICICI Securities Limited
Registrar for Property Share REIT IPO
Kfin Technologies Limited
- Contact Number: 04067162222, 04079611000
- Email Address: propshare.ipo@kfintech.com
Know before investing
Strengths
6-
Grade A LEED Gold asset by Prestige Group.
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Located in Bangalore's largest office market, Outer Ring Road.
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9-year lease with 3-7 year staggered lock-in period.
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Inflation-linked cash flows with escalations every 3 years.
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Improved connectivity via metro operational by June 2026.
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Low management fee: 0% in Year 1, max 0.3%.
Risks
6-
Low occupancy or rent levels may affect cash flows.
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Future upgrades face regulatory, financing, and profitability risks.
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Tenant defaults, early terminations, or disputes impact revenues.
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The real estate market downturn weakens rental demand and income.
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Shared property rights complicate upgrades and operational control.
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Valuation assumptions may not reflect true asset value.
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Choose IPO section on Home Page
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Property Share REIT IPO FAQs
Property Share REIT IPO is a book built issue REIT. It will be open from December 2, 2024, to December 4, 2024.
The Basis of Allotment will happen on Thursday, December 5, 2024.
The IPO subscription window will open on December 2, 2024.
The minimum lot size retail investors can subscribe to is 1 lot, and the lot size is 1 share.
The listing date for Property Share Investment Trust REIT is Monday, December 9, 2024.
The issue size of the Property Share REIT IPO is up to ₹352.91 crore, with a complete fresh issue.
The open and close dates for Property Share REIT IPO are from December 2, 2024 to December 4, 2024.
Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.
- Multiple Submissions: Use different Demat accounts to make multiple applications.
- Higher Price Band Bidding: Opt for bidding at the cut-off price or higher price band.
- Timely Subscription: Ensure you subscribe to the IPO within the specified time frame.
You must complete the payment process by logging in to your UPI handle and approving the payment mandate.
You can submit only one application using your PAN card.
To read Property Share Investment Trust REIT’s financial statements, download the IPO’s RHP document.
Pre-apply allows investors to apply for the Rajputana Biodiesel IPO two days before the subscription period opens, ensuring an early submission of your application.
Your order will be placed when the IPO opens for bidding, and a UPI request will follow within 24 hours.
You will receive a notification once your order is successfully placed with the exchange after the bidding starts.
Kfin Technologies Limited is the registrar responsible for managing the IPO allotment process and handling investor queries.
Property Share Investment Trust REIT IPO is proposed to be listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).
