Property Share REIT IPO: From key dates to Risks, 10 things to know from the RHP

Property Share REIT IPO: The initial public issue opens for subscription on 2 December' 2024. Here are 10 things to know from the RHP (Red Herring Prospectus)

1.Property Share REIT IPO: Key dates

Subscriptions for the Property Share REIT IPO will be accepted until December 4, 2024.

2.Property Share REIT IPO: Size

Property Share REIT IPO is a book built issue of ₹352.91 crores.

3.Property Share REIT IPO: Subscription details

The issue, with a price band of ₹10 lakh to ₹10.5 lakh per unit. . The minimum lot size for an application is 1 unit.

4.Property Share REIT IPO: Listing date

The tentative listing date for the Property Share REIT IPO is set for Monday, December 9, 2024, and it will be listed on the BSE and NSE.

5.Property Share REIT IPO: Allotment date

On Thursday, December 5, 2024, the allocation for the Property Share REIT IPO is anticipated to be finalized.

6.Property Share REIT IPO: Objectives of the IPO

Offer Proceeds are proposed to be utilised for the acquisitions of the Project Platina by Platina SPVs as commercial office spaces and reimbursement of the payment of applicable statutory charges under applicable laws (including stamp duty, registration, surcharge and cess etc. for the registration of sale deeds) to the Investment Manager for the proposed acquisition of the Project Platina by the Platina SPVs as commercial office spaces by way of lending to the Platina SPVs and subscribing to the equity and debt instruments of the Platina.

Some part of proceed to be used for General Purposes

7.About Property Share REIT

Property Share Investment Trust, a small and medium real estate investment trust registered with SEBI, was established in June 2024. PropShare Platina, the Trust's initial scheme, is structured in accordance with the REIT Regulations and has six completely owned SPVs.

8.Property Share REIT IPO: Key risks

The company's revenues, results of operations, cash flows and financial condition may be adversely affected by low occupancy and rent levels of its commercial office space

9.Property Share REIT IPO: Lead Managers and Registrar

ICICI Securities Limited is the book running lead manager of the Property Share REIT IPO, while Kfin Technologies Limited is the registrar for the issue.

10. Property Share REIT IPO: Peers

Currently there are no listed schemes under the small and medium real estate investment trusts in India. Accordingly, it is not possible to provide an industry comparison in relation to the PropShare Platina

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