PropShare Titania, second scheme of the Property Share Investment Trust has made an initial public offering of equity shares aggregating to ₹472.972 crore.
Cyril Amarchand Mangaldas advised Property Share Investment Trust and PropShare Investment Manager Private Limited on this IPO.
The transaction was led by Kranti Mohan (Partner, Head - REITs and InvITs), with support from Subham Jain (SA - Designate), Parikha Rathi (Associate) and Anshum Agarwal, (Associate).
The general corporate team comprised of Pranjita Barman (Partner), Subhalaxmi Hota (Associate) and Saakshi Tibrewal (Associate).
Jinal Mehta (Partner), with support from Anjali Kadam (Consultant); advised on real estate aspects of the transaction.
Trilegal advised book running lead manager Kotak Mahindra Capital Company Limited on this IPO.
The transaction team was led by Abhinav Maker (Partner), with support from Associates Mrinal Kumar, Kalyan Reddy, and Animan Sharma.
The Property Share Investment Trust is the first registered small and medium real estate investment trust.
This is the second ever public issue of Units by a Scheme of an SM REIT.
The proceeds of the IPO were used, for funding the acquisition of a special purpose vehicle (“Titania SPV”) which owns six floors in G Corp Tech Park, a Grade A+ commercial office development in Thane, Mumbai Metropolitan Region with a leasable area of 4,37,973 square feet.
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