PropShare Platina: A New Era of Investment in India

India's first registered Small and Medium Real Estate Investment Trust, Property Share Investment Trust, announces the Rs 353-crore IPO of PropShare Platina, set to open on December 2 and close on December 4. The investment involves a 2,46,935 square feet office space in Bengaluru, offering vital returns.

The Property Share Investment Trust, marking its place as India's pioneering registered Small and Medium Real Estate Investment Trust, revealed on Monday that the Rs 353-crore initial public offering (IPO) of PropShare Platina will commence on December 2.

PropShare Platina represents the premier scheme of the SM-REIT, set to conclude its IPO on December 4, with a price range between Rs 10 lakh to Rs 10.5 lakh per unit. This IPO, featuring no offer for sale (OFS) segment, aims to fund the acquisition of the Prestige Tech Platina property by Platina's special purpose vehicles.

The venture boasts 2,46,935 square feet in Bangalore's Prestige Tech Platina, leased to a US tech firm with a nine-year agreement. This scheme projects attractive returns, heralding a pivotal investment in India's evolving real estate market.

(With inputs from agencies.)