Property Share Investment Trust Readies Rs 353 Crore IPO for Landmark REIT Scheme

Property Share Investment Trust is set to launch an IPO to raise Rs 353 crore for its Small and Medium Real Estate Investment Trust, PropShare Platina. The scheme includes a substantial office space in Bengaluru and aims for a 9% distribution yield by FY26. Proceeds will fund the acquisition of the Prestige Tech Platina asset.

Property Share Investment Trust has filed a draft document with Sebi to launch its Small and Medium Real Estate Investment Trust (SM-REIT) public issue, aiming to raise up to Rs 353 crore.

PSIT, India's first registered SME REIT, is set to launch 'PropShare Platina', its inaugural scheme. The scheme will cover 2,46,935 sq ft of office space in Prestige Tech Platina, Bengaluru, leased to a US tech firm on a fresh 9-year lease. The projected distribution yield for FY26 stands at 9 per cent.

Property Share will invest 5 per cent of the units, equivalent to Rs 17.6 crore, from its capital into the offering. The IPO includes a fresh issue of Platina units with proceeds targeted for acquiring the Prestige Tech Platina asset through special purpose vehicles.

(With inputs from agencies.)