Property Share, founded by Kunal Moktan and Hashim Khan, files for IPO of PropShare Platina scheme, India's first Small and Medium Real Estate Investment Trust (SM REIT)
Property ShareSm ReitReal Estate Investment TrustIpoPrestige Tech PlatinaReal EstateSep 28, 2024
Property Share's SM REIT scheme is an initial public offering (IPO) of its PropShare Platina scheme, worth up to ₹353 crore, which will be used to acquire the Prestige Tech Platina asset.
Investors in the PropShare Platina scheme are projected to receive a 9 per cent distribution yield for FY26.
The Prestige Tech Platina asset will be leased to a US-based tech firm for nine years, with rent increasing 15 per cent every three years.
ICICI Securities is the lead manager for the IPO.
The units will be listed on the Bombay Stock Exchange (BSE).
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