PropShare Titania SM REIT files ₹473 crore issue
Property Share Investment Trust
(SM REIT) has filed the key information of the trust and key information of the scheme for
PropShare Titania
, their second scheme under the trust aggregating to up to ₹473 crore.
The bid/issue will open on July 21, 2025 and close on July 25, 2025. The price band for the issue is ₹10 lakh to ₹10.6 lakh per Titania unit. The minimum bid size is ₹10,00,000 the minimum investment amount. Bids can be made for a minimum of one Titania unit and in multiples of one Titania unit thereafter by bidders.
The IPO comprises of a fresh issue of Titania units with no offer for sale component. Property Share will also invest a minimum 5% of the Titania units of the scheme from its capital into the offering as the investment manager contribution.
PropShare Titania comprises of a 4,37,973 sq ft Grade A+ office space in G Corp Tech Park located in Thane, Mumbai Metropolitan Region. The asset is 100% occupied by a diversified tenant portfolio including Billdesk (Razorpay), Control Risks, Aptara, and Piramal Pharma Solutions, with a Weighted Average Lease Expiry (WALE) of 5.6 years as of June 2025.
The scheme projects a distribution yield of 9% annually for FY26, FY27, and FY28, and 8.7% in FY29. Distributions will include interest income, dividends, and capital repayment, with investors expected to receive approximately ₹42–45 lakh per unit over four years.
The investment manager to the trust is
Property Share Investment Manager
. The net proceeds are proposed to be utilized to the extent of ₹217 crore for acquisition of the entire issued and paid-up equity share capital of the Titania SPV as per the share purchase agreement; ₹232.94 crore for providing loan to the Titania SPV for extinguishment and redemption of the debenture liability of the Titania SPV, by redeeming the OCDs (including any accrued interest); and general corporate purposes.
Kotak Mahindra Capital Company
is the sole lead manager (BRLM) to the issue and KFin Technologies is the registrar to the issue. Cyril Amarchand Mangaldas is the domestic legal counsel for the Trust and investment manager in relation to the issue and Trilegal is the domestic legal counsel for the sole lead manager in relation to the Issue. Axis Trustee Services is the trustee for the issue.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Standard
2 days ago
- Business Standard
PropShare Platina REIT IPO subscribed 9%
The offer received bids for 407 shares as against 4,493 shares on offer. The initial public offer of PropShare Platina REIT IPO received bids for 407 shares as against 4,493 shares on offer, according to stock exchange data at 17:03 IST on Monday (21 July 2025). The issue was subscribed 0.09 times. The issue opened for bidding on Monday 21 July 2025 and it will close on Friday, 25 July 2025. The price band of the IPO is fixed at Rs 10 lakh to 10.60 lakh. The IPO comprises a fresh issue of 4,493 equity shares, aggregating up to Rs 473 crore. The proceeds from the offer will be utilised towards acquisitions acquisition of the entire issued and paid-up equity share capital of the Titania SPV as per the share purchase agreement, providing loan to the Titania SPV for extinguishment and redemption of the debenture liability of the Titania SPV, by redeeming the OCDs and general purposes. PropShare Titania is the second scheme launched by Property Share Investment Trust, India's first small and medium real estate investment trust registered with the Securities and Exchange Board of India. PropShare Titania offers investors an opportunity to invest in various office premises across six floors of G Corp Tech Park, a Grade A+ commercial office building, located in Thane, Mumbai Metropolitan Region. PropShare Titania offers a projected distribution yield of 9.0% for FY26, 9.0% for FY27, 9.0% for FY28, and 8.7% for FY29.
Economic Times
2 days ago
- Economic Times
LIC ups stake in SBI to 9.49% via QIP route, buys over 6.1 crore shares worth Rs 5,000 crore
Life Insurance Corporation of India (LIC) has increased its stake in State Bank of India (SBI) from 9.21% to 9.49% by participating in the bank's recently completed qualified institutional placement (QIP). LIC acquired over 6.1 crore shares at Rs 817 each, amounting to a total investment of ₹5,000 crore. ADVERTISEMENT SBI on Monday allotted over 30.59 crore equity shares to institutional investors at an issue price of Rs 817 apiece, the largest Indian lender informed exchanges via a company filing. Shares of LIC today ended at Rs 928.95 on the NSE, gaining by Rs 5.80 or 0.63% over the Friday closing price while those of SBI ended with minor gains of 0.15% at Rs 824.60. SBI's record Rs 25,000-crore institutional share sale was bid more than four times the stock on offer, with marquee names such as the $11-trillion asset manager BlackRock Group and London hedge fund Marshall Wace joining in to buy into the mass lender's first such capital-raising in eight years, ET reported on Friday citing people familiar with the Rs 25,000 crore of stock SBI offered in India's biggest qualified institutional placement (QIP) to date, the most-valued government asset drew bids worth Rs 1.10 lakh crore from about 120 interested parties. Market sources said aggressive bids came from both local and overseas funds as an SBI share sale - especially of this magnitude - is relatively rare. ADVERTISEMENT Cyril Amarchand Mangaldas and Linklaters were advisors to SBI on its QIP, which is the largest ever in Indian history. S&R Associates and Allen Overy Shearman Sterling advised the book running lead managers to the book running lead managers comprise Kotak Mahindra Capital Company, SBI Capital Markets, ICICI Securities, Morgan Stanley India, HSBC Securities and Capital Markets, and Citigroup. ADVERTISEMENT The QIP was above Coal India's Rs 22,560 crore issue from 2015, making it the largest of its kind on India's bourses. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
&w=3840&q=100)
Business Standard
2 days ago
- Business Standard
PropShare Titania SM Reit IPO opens today: here's all you need to know
Propshare Titania SM Reit IPO: The initial public offering (IPO) of PropShare Titania, the second scheme of Property Share Investment Trust (PSIT), is set to open for subscription today, July 21, 2025. PSIT is a small and medium-scale real estate investment trust (SM Reit). PropShare Titania IPO comprises a fresh issue of ₹473 crore and no offer for sale (OFS) component. According to the red herring prospectus (RHP), up to 75 per cent of the issue has been reserved for institutional investors, and the remaining 25 per cent of the units for non-institutional investors. Here are the key details of the Propshare Titania SM Reit IPO PropShare Titania SM Reit IPO price band, lot size Property Share has set the price band in the range of ₹10,00,000 to ₹10,60,000 per unit. The lot size for an application is one unit. PropShare Titania SM Reit IPO key dates The issue will remain open for bidding until Friday, July 25, 2025. The allotment of units is expected to be finalised on Wednesday, July 30. Propshare Titania IPO will be listed on the BSE tentatively on Monday, August 4, 2025. PropShare Titania SM Reit IPO trustee, lead manager PropShare Investment Manager is the investment manager for the PropShare Titania. Axis Trustee Services acts as the trustee. Kotak Mahindra Capital Company is the sole lead manager to handle the Propshare Titania IPO. PropShare Titania SM Reit IPO objective According to the RHP, Propshare Titania proposes to utilise the net issue proceeds for the acquisition of a 100 per cent stake in the Titania SPV as per the share purchase agreement and providing a loan to the Titania SPV for the extinguishment and redemption of the debenture liability of the Titania SPV, by redeeming the OCDs. Currently, GOF I (Master A) Pte owns an 81.25 per cent stake in Titania SPV, and Anamudi Real Estates LLP holds 18.75 per cent units. About PropShare Titania SM Reit IPO According to the RHP, Propshare Titania offers investors the opportunity to invest in various office premises across six floors of G Corp Tech Park, a Grade A+ commercial office building located in Thane, Mumbai Metropolitan Region (MMR). PropShare Titania has a leasable area of 4,37,973 square feet. The project is fully leased to a mix of Fortune 500 companies, multinational companies (MNCs) and blue-chip tenants, including Aditya Birla Capital and Convergys India Services. The scheme offers investors a projected distribution yield of 9 per cent for FY26-27, 9.1 per cent in FY28, and 8.7 per cent for FY29. Notably, management and property fees are waived for FY26, with a nominal 0.5 per cent fee thereafter.
