The Property Share REIT IPO is set to open for subscription on Monday, December 2, 2024, and will close on Wednesday, December 4, 2024. The price band for the IPO is fixed between ₹10,00,000 and ₹10,50,000 per share, with a minimum lot size of one share.
The basis of allotment will be finalized on Thursday, December 5, 2024, and the shares are scheduled to be listed on the stock exchange on Monday, December 9, 2024.
ICICI Securities Limited is the book-running lead manager for this issue, while Kfin Technologies Limited has been appointed as the registrar. For more detailed information, investors are advised to refer to the Property Share REIT IPO Red Herring Prospectus (RHP).
Property Share REIT IPO Details
| Particulars | Details |
|---|---|
| Face Value | ₹ per share |
| Price Band | ₹1,000,000 to ₹1,050,000 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 |
| Shareholding Post Issue | 3,361 shares |
| Retail Minimum Investment | 1 lot (₹1,050,000) |
| IPO Open Date | Monday, December 2, 2024 |
| IPO Close Date | Wednesday, December 4, 2024 |
| Basis of Allotment | Thursday, December 5, 2024 |
Property Share REIT IPO Market Lot
Investors are required to bid for a minimum of one share, with additional bids made in multiples of one share. The table below illustrates the minimum and maximum investment limits for retail investors and High Net-worth Individuals (HNIs), specifying the number of shares and the corresponding investment amounts.
| Category | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1 | ₹1,050,000 |
Property Share REIT IPO Date
The IPO opens on December 2, 2024, and closes on December 4, 2024. Investors must confirm their UPI mandates by 5 PM on December 4. Key post-IPO events, such as allotment finalization and share credit, will follow promptly, with the listing scheduled for December 9, 2024.
| Event | Date |
|---|---|
| IPO Open Date | Monday, December 2, 2024 |
| IPO Close Date | Wednesday, December 4, 2024 |
| Cut-off Time for UPI Mandate | 5 PM, December 4, 2024 |
| Basis of Allotment Finalization | Thursday, December 5, 2024 |
| Initiation of Refunds | Friday, December 6, 2024 |
| A credit of Shares to Demat | Friday, December 6, 2024 |
| Listing Date | Monday, December 9, 2024 |
Property Share REIT IPO Reservation Details
The IPO offers shares in different categories, each allocated as follows:
- Qualified Institutional Buyers (QIBs): Up to 75% of the net issue is reserved for this category.
- Non-Institutional Investors (NIIs/HNIs): At least 25% of the net issue is allocated to high-net-worth individuals and non-institutional investors.
Objectives of the Issue (Property Share REIT IPO Objectives)
The proceeds from the offer are planned to be utilized as outlined below:
- Acquisition of Project Platina
Funds will be directed toward acquiring Project Platina, which comprises commercial office spaces, through Platina SPVs (Special Purpose Vehicles). This includes covering statutory costs such as stamp duty, registration fees, surcharge, and cess associated with the registration of sale deeds. Additionally, the proceeds will be used to reimburse the Investment Manager for expenses related to the acquisition. The investment will be made through loans to Platina SPVs and by subscribing to their equity and debt instruments. - General Corporate Purposes
A portion of the proceeds will be allocated toward meeting general corporate requirements, supporting the overall business operations and future growth initiatives.
Property Share REIT IPO Prospectus
Property Share Investment Trust Contact Details
Property Share Investment Trust
16th Floor, SKAV Seethalakshmi
Kasturba Road, Bangalore-560001
Phone: [Insert Contact Number]
Email: compliance.officer@propertyshare.in
Website: www.propertyshare.in
IPO Registrar for Property Share REIT
KFin Technologies Limited
Phone: 040-67162222, 040-79611000
Email: propshare.ipo@kfintech.com
Website: KFintech IPO Status
Property Share REIT IPO – Buy or Not?
IPO Recommendation Summary:
- Review by Brokers: 1 recommendation to subscribe.
- Member Feedback: 1 recommendation to avoid.
- Neutral Reviews: None reported.
Lead Manager(s) for Property Share REIT IPO
ICICI Securities Limited
Purpose of the IPO
Funds raised will be used for:
- Acquisition of commercial office spaces in Project Platina through Platina SPVs.
- Reimbursement of statutory charges such as stamp duty, registration fees, surcharges, and other applicable taxes.
- Lending and subscribing to equity and debt instruments issued by Platina SPVs.
- General corporate purposes.