Property Share REIT IPO:The IPO of India’s first registered Small and Medium Trust (SM-REIT), Property Share Investment Trust (PSIT) has opened today on 2 December 2024. Investors will be able to invest in this IPO till December 4, 2024. The company has planned to raise funds of Rs 352.91 crore through IPO. The price band for this has been fixed at Rs 10 lakh to Rs 10.5 lakh per share. On December 9, the company’s shares will be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE). Share allotment can happen on 5 December 2024.
Completely fresh equity shares will be issued in the IPO of Property Share Investment Trust. For this, the company will issue 3361 fresh equity shares worth Rs 352.91 crore. Existing investors of Property Share Investment Trust will not sell a single share through Offer for Sale i.e. OFS. Property Share Investment Trust is a Small and Medium (SM) real estate investment trust, registered with SEBI.
A bid of at least Rs 10 lakh will have to be made.
The price band of the IPO of Property Share Investment Trust is Rs 10 lakh to Rs 10.5 lakh per equity share. Investors can bid for a minimum of 1 share. That means it will be necessary to invest at least Rs 10 lakh. The registrar for the Property Share Investment Trust REIT IPO is Kfin Technologies Ltd, while the book-running lead manager is ICICI Securities Ltd.
how much reserve for whom
75 percent of the IPO of Property Share Investment Trust has been reserved for Qualified Institutional Buyers (QIB). Whereas 25 percent share is reserved for Non Institutional Investors (NII).
Where will the funds be used
The funds raised from the IPO will be used for the acquisition of Project Platina, which will be developed as a commercial office space under Platina SPVs. Apart from this, the fund will also be used to cover the payments required for legal processes like stamp duty, registration fees, surcharge and cess. This fund will be made available through lending to Platina SPVs and investing in their equity and debt instruments.
