The IPO of India’s first registered small and medium trust (SM-REIT), Property Share Investment Trust (PSIT), will open on December 2. Investors will be able to bid for this issue till December 4. On December 9, the company’s shares will be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). PSIT wants to raise a total of ?352.91 crore through this issue. For this, the company will issue 3,361 fresh shares worth a total of ?352.91 crore. Existing investors of Property Share Investment Trust will not sell a single share through Offer for Sale i.e. OFS. Price band ?10 lakh to ?10.5 lakh The company has fixed the price band of PSIT IPO at ?10 lakh to ?10.5 lakh per equity share. Investors can bid for a minimum of 1 share. The registrar for the Property Share Investment Trust REIT IPO will be Kaffin Technologies Limited and the book-running lead manager of the book-built issue is ICICI Securities Limited. 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% has 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% has been reserved for other investors. Property Share Investment Trust was established in June 2024, which is a SEBI registered small and medium real estate investment trust. The money raised from the IPO is planned to be used primarily for the purchase of Prestige Tech Platina Asset by Platina SPVs. What is an IPO? When a company issues its shares to the general public for the first time, it is called Initial Public Offering or IPO. The company needs money to expand its business. In such a situation, instead of taking loan from the market, the company raises money by selling some shares to the public or by issuing new shares. For this, the company brings IPO.
