PropShare Platina IPO Launches Soon

27 Nov 2024 CW Team

India’s first Small and Medium Real Estate Investment Trust (SM-REIT), Property Share Investment Trust (PSIT), announced the launch of the ?353 crore PropShare Platina IPO, slated to open on December 2, 2024, and close on December 4. This debut scheme under SM-REIT is expected to redefine real estate investment opportunities in India.

The IPO, fully comprised of fresh Platina unit issuances with no Offer for Sale (OFS), is priced between ?10 lakh and ?10.5 lakh per unit. The funds raised will primarily facilitate the acquisition of Prestige Tech Platina, a LEED Gold-certified office building located on Outer Ring Road (ORR), Bengaluru.

Spanning 2,46,935 square feet, Prestige Tech Platina is poised to become a prime asset with its 9-year lease to a US-based tech company, featuring a 4.6-year weighted average lock-in period and 15% rent escalations every 3 years. The IPO offers an attractive distribution yield, projected at 9% for FY26, 8.7% for FY27, and 8.6% for FY28, combining regular rental income with potential capital appreciation.

According to Kunal Moktan, Director of Property Share, SM-REITs like PropShare Platina offer a unique hybrid investment model that balances regular income and long-term growth, making it an ideal choice for alternative asset seekers. Hashim Khan, another director, emphasized the direct investment model, which allows investors to choose specific assets, tenants, and markets, empowering them in the decision-making process.

The IPO will be managed solely by ICICI Securities, with the units proposed to be listed on the BSE. This development marks a significant milestone in Indian real estate, introducing innovative investment opportunities tailored to modern financial portfolios.

Infrastructure Urban

06 Jul 2026

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..