Mitali
The most expensive share which is India’s first registered Small and Medium Real Estate Investment Trust (SME-REIT) that plans to carry on the activity of a small and medium real estate investment trust through one or more Schemes. The investment strategy is focused exclusively on completed and revenue-generating real estate properties through SPVs.
Full Name Of Share
Property Share Investment Trust- Propshare Platina.
Incorporation
The Property Share Investment Trust is incorporated in 2024.
Why Are This Shares So Expensive?
Propshare Platina is a first Real Estate Investment Trust (REIT) scheme that is currently considered the most expensive share/unit available for investment in India as:
- It is designed to include commercial office spaces located on Outer Ring Road Bangalore that allows investors to invest in the Prestige Tech Platina, a prominent commercial office space with a total leasable area of 246,935 square feet.
- The property is proposed to be fully leased to 24/7 Customer Private Limited, a U.S.-based technology company, under a 9-year lease agreement. This long-term lease is a positive indicator of stable cash flow for the REIT.
- The scheme aims to make investment in completed commercial properties and will manage cash flows effectively through SPVs and other investments.
- The Real Estate Investment Trust will hold amounts pending investment or distribution as net distributable cash flows to unit holders.
Projected Distribution Yields
The scheme offers a projected distribution yield of:
| FY26 | 9% |
| FY27 | 8.7% |
| FY28 | 8.6% |
IPO Listed Details
The company launched its IPO for a fresh issue of 3361 Platina Units aggregating to ₹353 crore and got listed on BSE on 10th Dec, 2024
| IPO Date | Mon, 2nd Dec 2024 to Wed 4th December 2024 |
| Face Value | Rupees per share |
| Issue Price | Rs.1050000 per share |
| Lot | 1 |
| Share | 1 |
About Prestige Tech Platina
It is a LEED Gold building developed by the Prestige Group with established multinational tenants including JP Morgan Chase, Adobe, Oracle and Juniper Networks.
Conclusion
The Property Share Investment Trust represents a strategic advancement in India's real estate investment sector by providing a structured and regulated avenue for investing in commercial real estate. With a focus on completed properties, a robust leasing strategy, and an emphasis on sustainability, it aims to attract investors looking for stable returns.
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