Property Share Investment Trust (PSIT), India’s first registered small and medium real estate investment trust, has filed draft papers with SEBI. It plans to raise ₹472 crore through an IPO for PropShare Titania, its second SM Reit scheme.
The deets: PSIT is a real estate investment platform that allows investors to own a share of high-quality commercial properties. It focuses on small and medium Reits, offering regular rental income and long-term capital appreciation.
PropShare Titania is a fancy office building in Mumbai with 4.4 lakh sq. ft. of space. It’s already fully rented out to big-name companies like Aditya Birla Capital, Concentrix, and other top global firms.
The IPO will follow the book-building route, in line with Reit regulations. 75% of the net issue will be allocated to institutional investors, while the remaining 25% will go to non-institutional investors.
The why: PSIT plans to use the net proceeds from the IPO to acquire the asset. The scheme expects to pay investors around 9% returns every year for the next few years. It’s designed for people who want steady income from renting out top-quality office buildings.
