PropShare SM REIT IPO description – Property Share, founded in 2016, is a fractional ownership platform that allows investors to invest in real estate assets. It has recently made headlines by becoming the first company in India to register a Small and Medium Real Estate Investment Trust (SM REIT) with the Securities and Exchange Board of India (SEBI) under the name Property Share Investment Trust (PSIT). The company aims to democratize real estate investment by lowering the entry barrier for retail investors.
The property spans a leasable area of 2,46,935 square feet and is proposed to be fully leased to 24[7].ai (24/7 Customer Private Limited), a US-based technology company, under a 9-year lease agreement. Notably, 24[7].ai is also the proposed seller of the assets, referred to as Project Platina. The scheme is designed to offer a projected distribution yield of 9.0% for the financial year 2026, 8.7% for FY 2027, and 8.6% for FY 2028. These projected yields are based on assumptions and estimates deemed appropriate and reasonable by the Investment Manager during preparation.
The investment manager directly employs 43 personnel as of 17 November 2024. The Trust will waive management fees for FY25 and FY26, charge 0.25% of gross proceeds in FY27, and 0.30% from FY28 onward. A one-time acquisition fee of 1.5% of the property value will apply.
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PropShare SM REIT IPO Details
| PropShare SM REIT IPO Dates | 2 – 4 December 2024 |
| PropShare SM REIT Issue Price | INR 10,00,000 – 10,50,000 per share |
| Fresh issue | 3,361 shares (INR 352.91 crore) |
| Offer For Sale | NIL |
| Total IPO size | 3,361 shares (INR 352.91 crore) |
| Minimum bid (lot size) | 1 Share (INR 10,50,000) |
| Face Value | Not applicable |
| NII Allocation | 25% |
| Listing On | BSE |
PropShare SM REIT Offer News
- PropShare SM REIT RHP
- PropShare SM REIT Draft Prospectus
- ASBA IPO Forms
- Live IPO Subscription Status
- IPO Allotment Status
PropShare SM REIT IPO GMP Today
| Date | Consolidated IPO GMP | Kostak | Subject to Sauda |
| Coming soon | – | – | – |
PropShare SM REIT IPO Subscription – Live Updates
| Category | Institutional | Other Investors | Total |
|---|---|---|---|
| Shares Offered | 2,514 | 839 | 3,353 |
| 4 Dec 2024 | 0.13 | 4.37 | 1.19 |
| 3 Dec 2024 | 0.00 | 0.34 | 0.08 |
| 2 Dec 2024 | 0.00 | 0.11 | 0.03 |
PropShare SM REIT IPO Allotment Status
PropShare SM REIT IPO allotment status is now available on the KFin Tech website. Click on this link to get allotment status.
PropShare SM REIT IPO Dates & Listing Performance
| IPO Opening Date | 2 December 2024 |
| IPO Closing Date | 4 December 2024 |
| Finalization of Basis of Allotment | 5 December 2024 |
| Initiation of refunds | 6 December 2024 |
| Transfer of shares to demat accounts | 6 December 2024 |
| PropShare SM REIT IPO Listing Date | 10 December 2024 |
| Opening Price on BSE | INR 10,50,000 per share (No change) |
| Closing Price on BSE | INR 10,42,001 per share (down 0.76%) |
PropShare SM REIT IPO Reviews – Subscribe or Avoid?
Aditya Birla Capital –
Angel One –
Anand Rathi –
Antique Stock Broking –
Arihant Capital –
Ashika Research –
Asit C Mehta –
BP Wealth –
Canara Bank Securities –
Centrum Broking –
Choice Broking –
Dalal & Broacha –
Elite Wealth –
Geojit –
GEPL Capital –
Hem Securities –
ICICIdirect –
Jainam Broking –
KR Choksey –
LKP Research –
Marwadi Financial –
Motilal Oswal –
Nirmal Bang –
Reliance Securities –
Religare Broking –
Samco Securities – Not rated
SBI Capital –
SMC Global –
Swastika Investmart –
Ventura Securities –
PropShare SM REIT Offer Lead Manager
ICICI SECURITIES LIMITED
4th Floor, ICICI Venture House, Appasaheb Marathe Marg
Prabhadevi, Mumbai 400 025, Maharashtra
Phone: +91 22 6807 7100
Email:Â [email protected]
Website:Â www.icicisecurities.com
PropShare SM REIT Offer Registrar
KFIN TECHNOLOGIES LIMITED
Selenium Tower – B, Plot 31 & 32, Gachibowli,
Financial District, Nanakramguda, Serilingampally,
Hyderabad – 500 032, Telangana
Telephone: +91 40 6716 2222
Email: [email protected]
Website:Â www.kfintech.com
PropShare SM REIT Contact Details
PROPERTY SHARE INVESTMENT TRUST
16th Floor, SKAV Seethalakshmi, 21/22,
Kasturba Road, Bangalore 560001, India
Phone: +91 80 3100 3902
E-mail: [email protected]
Website: www.propertyshare.in
PropShare SM REIT IPO FAQs
How many shares in PropShare SM REIT IPO are reserved for HNIs and retail investors?
The investors’ portion for Institutional Investors – 75%, and NII – 25%.
How to apply for PropShare SM REIT Public Offer?
The best way to apply for PropShare SM REIT public offer is through Internet banking ASBA (know all about ASBA here). You can also apply online through your stock broker using UPI. If you prefer to make paper applications, fill up an offline IPO form and deposit the same to your broker.
What is PropShare SM REIT IPO GMP today?
PropShare SM REIT IPO GMP today is INR NA per share.
What is the PropShare SM REIT kostak rate today?
PropShare SM REIT kostak rate today is INR NA per application.
What is PropShare SM REIT Subject to Sauda rate today?
PropShare SM REIT Subject to Sauda rate today is INR NA per application.
