About Property Share Investment Trust Ltd IPO

Property Share Investment Trust Ltd is a SM REIT, it is set to roll out a Rs 352.91 crore book. It will comprise entirely a fresh issue of shares. The firm is preparing to make its debut on NSE and BSE. This SM REIT operates under SEBI regulations.

The issue’s registrar is Kfin Technologies Ltd. ICICI Securities Ltd is the book running lead manager in this IPO.

What is SM REIT and How Does it work?

SM REIT stands for Small and Medium Real Estate Investment Trusts, a category within the REIT framework offering individual investors access to rental-yielding properties like office buildings, malls, hotels, and hospitals, valued between Rs 50 and 500 crores. Like traditional REITs, SM REIT units are traded on the stock exchange and are regulated by the Securities and Exchange Board of India (SEBI).

An SM REIT will launch an initial public offering (IPO) for each new scheme, making the investment process similar to investing in an IPO. You can subscribe directly through your demat account or buy units of previously listed SM REIT schemes from the stock exchange. This is subject to additional guidance or notifications from SEBI and the stock exchanges.

Parameters	SM REITs	Regular REITs
Choice of assets	Yes	No
Investment Strategy	Focused single asset approach	Portfolio of multiple assets
Types of assets	100% leased	Leased, under construction & land
Under construction assets	Not permitted	Up to 20% of the value of REIT is permitted
Size	Rs. 50 – 500 crores	> Rs. 500 crores
Listed	Yes	Yes
Hold period	4-6 years	Long-term
Minimum trading lot	Rs. 10 lakhs	One unit

Property Share Investment Trust Ltd IPO GMP Details

The latest GMP of the IPO stands at Rs 0, as of 26th November, 2024, 11:30 AM. The IPO is offered at a price of Rs 0 per share. The estimated listing price for Property Share Investment Trust is Rs 0, reflecting a potential gain of 0.00% per share.

Property Share Investment Trust Ltd IPO Details

Property Share Investment Trust Ltd IPO Opening Date and Closing Date	2nd December to 4th December
Face Value	Rs per share
Price Band	Rs to Rs per share
Ticket Size	Rs 10 Lakh
Total Issue Size	shares (aggregating up to Rs 352.91 Cr)
Fresh Issue	shares (aggregating up to Rs 352.91 Cr)
Issue Type	Book-Built Type Issue
Listing At	NSE, BSE
Shareholding Pre-Issue	–
Shareholding Post Issue	–
Basis of Allotment	Thursday, 5th December, 2024
Refund Initiation	Friday, 6th December, 2024
Credit of Shares in Demat	Friday, 6th December, 2024
Listing Date	Monday, 9th December, 2024
Cut-off time for UPI mandate confirmation	5 PM on 4th December, 2024
Draft Red Herring Prospectus	Link
Red Herring Prospectus	Link

Property Share Investment Trust Ltd Company Details

Property Share Investment Trust, established in June 2024, is a SEBI-registered small and medium real estate investment trust. Its first scheme, PropShare Platina, includes six wholly owned SPVs under its REIT structure.

Axis Trustee Services Limited serves as the Trustee for Property Share Investment Trust, offering services such as:

• Debenture trustee
• Security trustee
• Facility agent
• Escrow agency
• Custody services
• Trust and retention account management
• Securitization trustee
• Share monitoring trustee
• Lender repayment trustee
• Digital escrow agency
• Trustee services for REITs, InvITs, AIFs, family trusts, and more in the domestic market.

Property Share Investment Trust Ltd IPO Lot Size, Shares, And Their Value:

Application	Lots	Shares	Amount
Retail (Min)	1	–	Rs –
Retail (Max)	1	–	Rs –
HNI (Min)	2	–	Rs –

Investor categories and Property Share Investment Trust Ltd shares offered:

Investor Category	Shares Offered
QIB Shares Offered	Not more than 75.00% of the offer
NII (HNI) Shares Offered	Not less than 25.00% of the Offer

Objectives of Property Share Investment Trust Ltd IPO

The Offer Proceeds are planned to be used as follows:

• Acquisitions of Project Platina by Platina SPVs as commercial office spaces. This includes reimbursement for statutory charges such as stamp duty, registration fees, surcharges, and cess, paid to the Investment Manager for registering the sale deeds. The funds will be provided by lending to Platina SPVs and subscribing to their equity and debt instruments.

• General purposes.

Some major risks associated with the Property Share Investment Trust Ltd IPO are:

• They face risks that could impact revenues, operations, and finances, such as low occupancy and rental levels in commercial office spaces.

• Future upgrades to SPV projects may encounter uncertainties and challenges that could harm their business and financial health.

• Tenant leases in SPVs carry risks like defaults, early terminations, legal or regulatory issues, and changes in laws, affecting leasing and income.

• Acquiring properties within larger developments or shared areas comes with inherent challenges.

• A downturn in the Indian real estate market could negatively affect their business and financial stability.

Frequently Asked Questions (FAQs)

What is the price band of the Property Share Investment Trust Ltd IPO?

Price band has been fixed at Rs and Rs per share.

What is the lot size and share allocation for High Net-Worth Individuals (HNIs)?

The lot size for HNIs is  lots, with a total of shares allocated.

How can I apply for the Property Share Investment Trust Ltd Initial Public Offer?

Via your demat account or through the banking or other financial institutions during the period of IPO.

When is the Last Date of IPO subscription for Property Share Investment Trust Ltd?

The cut-off time is 4th December, 2024, at 5 PM; however, most brokers stop accepting applications between 1-3 PM.

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