India News Get -BusinessProperty Share REIT IPO Opening – Listing Date, Share Price | Min Max Investment Guide
The IPO of India’s first registered Small and Medium Trust (SM-REIT), Property Share Investment Trust (PSIT), opened today i.e. from December 2. Investors will be able to bid on this issue until December 4. The company’s shares will be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on December 9.
PSIT aims to raise a total of Rs 352.91 crore through this issue. For this, the company will issue 3,361 new shares worth ₹352.91 crore. Existing investors in Property Share Investment Trust will not sell a single share through the Fos Sale i.e. OFS.
Price Range: ₹10 lakh to ₹10.5 lakh
The company has set the price band for PSIT’s IPO at ₹10 lakh to ₹10.5 lakh per share. Investors can offer a minimum of 1 share. The Registrar of the IPO of Property Share Investment Trust REIT will be Kfin Technologies Ltd and the principal book manager of the book-listed issue is ICICI Securities Ltd.
75% of the issue reserved for institutional investors
Property Share Investment Trust has reserved 75% of the issue for institutional investors. Apart from this, 25% of the shares have been reserved for other investors.
75% of the issue reserved for institutional investors
Property Share Investment Trust has reserved 75% of the issue for institutional investors. Apart from this, 25% of the shares have been reserved for other investors. Property Share Investment Trust, established in June 2024, is a real estate investment trust for small and medium enterprises registered with SEBI. The funds raised in the IPO are mainly expected to be used by the Platina SPVs to purchase the assets of Prestige Tech Platina.
What is IPO?
When a company issues its shares to the general public for the first time, it is called an initial public offering, i.e. an IPO. The company needs money to expand its business. In such a situation, instead of taking a loan from the market, the company raises funds by selling some shares to the public or issuing new shares. For this, the company brings an IPO.