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Property Share Investment Trust REIT
Property Share Investment Trust: An Overview
Property Share Investment Trust, established in June 2024, is a significant player in the Indian real estate investment landscape. As a SEBI-registered small and medium real estate investment trust (REIT), it offers investors an opportunity to participate in the real estate market with a regulated and structured approach. The Trust's first scheme, known as PropShare Platina, represents a robust step forward in its mission to provide diverse investment opportunities. This scheme is composed of six wholly owned Special Purpose Vehicles (SPVs), aligning with the guidelines set by the REIT Regulations. These SPVs are integral components that facilitate efficient management and operation of real estate assets.
Trustee Services by Axis Trustee Services Limited
Axis Trustee Services Limited serves as the esteemed Trustee of Property Share Investment Trust. This partnership ensures that the Trust operates under stringent regulatory standards and offers a broad range of services to its clients. The Trustee's role is multifaceted, ensuring comprehensive financial oversight and management. These services include:
- Debenture Trustee: Overseeing the issuance and management of debentures, ensuring compliance with regulatory norms.
- Security Trustee: Managing securities and ensuring the interests of the investors are protected.
- Facility Agent: Acting as an intermediary between borrowers and lenders to facilitate smooth financial transactions.
- Escrow Agency: Managing escrow accounts to ensure secure and transparent fund transfers.
- Custody Services: Safeguarding financial assets and ensuring their proper management.
- Trust and Retention Account: Managing trust and retention accounts for regulated financial transactions.
- Securitization Trustee: Overseeing the securitization process, ensuring securitized assets are managed effectively.
- Share Monitoring Trustee Monitoring and managing shares to ensure compliance with investment mandates.
- Lender Repayment Trustee: Overseeing the repayment process to lenders, ensuring timely and accurate distribution of funds.
- Digital Escrow Agency: Managing digital escrow services to facilitate secure online transactions.
- Trustee of REITs, InvITs, AIFs and Family Trusts: Providing trust services for a wide array of investment vehicles in the domestic market.
Property Share REIT IPO Overview:
- ● IPO Type: Book Built Issue
- ● Total Issue Size: ₹352.91 crores
- ● Price Per Share: ₹1,000,000 to ₹1,050,000 per share
- ● Minimum Lot Size: 1 share
- ● Minimum Investment (Retail Investors): ₹1,050,000
- ● Issue Opening Date: December 2, 2024
- ● Issue Closing Date: December 4, 2024
- ● Book Running Lead Managers: ICICI Securities Limited
- ● Registrar: Kfin Technologies Limited
Property Share REIT IPO Details
| Detail | Description |
|---|---|
| IPO Date | December 2, 2024 to December 4, 2024 |
| Listing Date | [.] |
| Face Value | ₹ per share |
| Price Band | ₹1000000 to ₹1050000 per share |
| Lot Size | 1 Share |
| Total Issue Size | 3,361 shares (aggregating up to ₹352.91 Cr) |
| Fresh Issue | 3,361 shares (aggregating up to ₹352.91 Cr) |
| Issue Type | Book Built Issue SM REIT |
| Listing At | BSE, NSE |
| Shareholding post issue | 3,361 |
Property Share REIT IPO Timeline
| Detail | Description |
|---|---|
| IPO Open Date | Monday, December 2, 2024 |
| IPO Close Date | Wednesday, December 4, 2024 |
| Basis of Allotment | Thursday, December 5, 2024 |
| Initiation of Refunds | Friday, December 6, 2024 |
| Credit of Shares to Demat | Friday, December 6, 2024 |
| Listing Date | Monday, December 9, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on December 4, 2024 |
Property Share REIT IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 75% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 25% of the Net Issue |
Property Share REIT IPO Objectives:-
The Offer Proceeds are proposed to be utilised in accordance with the details provided in the following table:
- ● Acquisitions of the Project Platina by Platina SPVs as commercial office spaces and reimbursement of the payment of applicable statutory charges under applicable laws (including stamp duty, registration, surcharge and cess etc. for the registration of sale deeds) to the Investment Manager for the proposed acquisition of the Project Platina by the Platina SPVs as commercial office spaces by way of lending to the Platina SPVs and subscribing to the equity and debt instruments of the Platina.
- ● General Purposes.
Property Share REIT IPO FAQs
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What is a Property Share REIT IPO?
Property Share REIT IPO is a main-board IPO. The company is going to raise ₹353 Crores via IPO. The issue is priced at ₹1000000 to ₹1050000 per equity share. The IPO is to be listed on BSE & NSE.
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When does the Property Share REIT IPO open for subscription?
The IPO is to open on December 2, 2024 for QIB, NII, and Retail Investors. The IPO will close on December 4, 2024.
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What is Property Share REIT IPO Investors Portion?
The investors’ portion for QIB is 75%, NII is 25%, and Retail is 00%.
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What is Property Share REIT IPO Issue Size?
Property Share REIT IPO issue size is ₹353 crores.
-
What is the Property Share REIT IPO Price Band?
Property Share REIT IPO Price Band is ₹1000000 to ₹1050000.
-
What is Property Share REIT IPO Lot Size?
The minimum bid is 1 Share with ₹10,50,000 amount.
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What is the Property Share REIT IPO Allotment Date?
Property Share REIT IPO allotment date is December 5, 2024.
-
What is the Property Share REIT IPO Listing Date?
Property Share REIT IPO listing date is December 9, 2024. The IPO is to be listed on BSE & NSE.
RHP:
RHP of Property Share Investment Trust REIT
DRHP:
DRHP of Property Share Investment Trust REIT
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