PropShare Titania: India's Pioneering SM REIT Seeks Rs 472 Crore IPO

PropShare Titania, India's second Small and Medium Real Estate Investment Trust by Property Share Investment Trust, has launched an Rs 472 crore IPO. Set in Mumbai, it offers a 9% distribution yield. Proceeds will primarily be used for asset acquisition. Kotak Mahindra Capital is managing the issue.

In a bold move to reshape real estate investment, Property Share Investment Trust has unveiled plans for a Rs 472 crore IPO for PropShare Titania, marking it as India's second SM REIT venture.

PropShare Titania stands as a prime example of modern real estate, offering 4,37,973 sq ft of grade A+ office space in Mumbai's G Corp Tech Park. Boasting a robust tenant portfolio that includes Fortune 500 companies, the space promises investors a secure and lucrative opportunity.

The IPO proceeds will primarily focus on asset acquisition, while Kotak Mahindra Capital Company will lead the offering, with listings planned on BSE, offering a projected distribution yield of around 9% for investors.

(With inputs from agencies.)