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ToggleProperty Share REIT IPO: Key Details and Analysis
The upcoming IPO of Property Share REIT, a small and medium real estate investment trust established on June 27, 2024, has garnered attention. While basic details such as IPO dates, price band, and application process are available, the absence of detailed financial disclosures complicates a thorough assessment of the investment opportunity.
IPO Timeline
- Opening Date: December 2, 2024
- Closing Date: December 4, 2024
- Allotment Date: December 5, 2024
- Refunds/Demat Credit: December 6, 2024
- Listing Date: December 9, 2024 (on BSE & NSE)
Financial Objectives
- Total Issue Size: ₹353 crores
- Fresh Issue: ₹352.91 crores (No offer for sale)
- Purpose:
- Funding REIT operations
- Acquiring commercial office spaces via Platina SPVs
- General corporate purposes
IPO Details
- Price Band: ₹1,000,000 – ₹1,050,000 per share
- Minimum Investment: 1 share (₹10,50,000)
- Investor Allocation:
- Qualified Institutional Buyers (QIB): 75%
- Non-Institutional Investors (NII): 25%
- Retail: 0%
Investment Focus
Property Share REIT aims to own, operate, and invest in retail real estate properties, generating income and profits through leasing and asset appreciation.
Key Entities Involved
- Key Personnel:
- Kunal Moktan, Hashim Qadeer Khan, Benjamin Oliver Speat Cassey (Non-Independent Directors)
- Promoters: Not disclosed
- Registrar: KFin Technologies Limited
- Lead Manager: ICICI Securities Limited
Application Process
- Online: Through ASBA or UPI with stockbrokers
- Offline: Physical forms via stockbrokers
Concerns Due to Limited Financial Data
Critical financial metrics such as revenue, expenses, profit margins, and key performance indicators (ROE, ROCE, EBITDA margin, debt ratios, etc.) for 2022–2024 are not disclosed. This lack of transparency prevents potential investors from fully evaluating the financial health, growth potential, and associated risks of the company.