Property Share SM REIT IPO opens: Key details you need to know

India’s first registered small and medium Real Estate Investment Trust (SM REIT), Property Share Investment Trust (PSIT), opens for subscription today, offering a unique opportunity for investors. The IPO is priced between Rs 10 lakh and Rs 10.5 lakh per unit and will remain open until December 4. The proceeds from the IPO will be primarily used to acquire Prestige Tech Platina, a prime office asset in Bangalore.

What is Property Share SM REIT?

Property Share is launching its first scheme, PropShare Platina, under the PSIT umbrella. Small and medium REITs, a new asset class regulated by SEBI, focus on assets valued between Rs 50 crore and Rs 500 crore. This category provides investors with access to office spaces leased to stable tenants, aiming for long-term growth.

Prestige Tech Platina: The core asset

The IPO aims to acquire 246,935 square feet of office space at Prestige Tech Platina, a LEED Gold certified building in Bangalore’s prominent Outer Ring Road (ORR) area. The property is fully leased to a US-based tech company under a fresh 9-year lease agreement, with a 15% rent escalation every three years. The location is home to major multinational corporations, ensuring a strong and steady tenant base.

Attractive returns for investors

The scheme projects a distribution yield of 9% for FY26, making it an attractive option for investors seeking stable income from office real estate. Property Share Investment Manager has also waived off all annual management expenses for FY25 and FY26, making this offering even more appealing.

Key IPO details

• Price band: Rs 10 lakh to Rs 10.5 lakh per unit

• IPO timeline: Open from December 2 to December 4

• Allotment date: December 5

• Listing date: December 9

• Lead Manager: ICICI Securities

• Registrar: KFin Technologies

This IPO offers investors an opportunity to participate in the growing SM REIT space, backed by a high-quality asset and an experienced management team.