PropShare Platina REIT has made headlines by becoming India’s most expensive security to trade, surpassing Elcid Investments. Following its debut on December 10, the SM REIT settled at a remarkable Rs 10.45 lakh per unit on the BSE, marginally lower than its listing price of Rs 10.5 lakh per unit.
While PropShare Platina REIT is now the most expensive security, Elcid Investments is still the most expensive share. The shares of Elcid had surged to Rs 2.36 lakh crore on October 29 after a special auction conducted by the BSE for price discovery. The holding company, holding 2.95% in Asian Paints valued at about Rs 8,000 crore, jumped more than 66 lakh percent from its previous price of Rs 3.53 apiece.
PropShare Platina REIT is the first such entity to get an SM REIT license, which has been initiated by SEBI in March 2024. The Rs 353-crore public issue of it was subscribed 1.19 times when it remained open from December 2 to December 4. Propshare Platina REIT manages 246,935 sft area office space in Prestige Tech Platina, Bangalore, leased in its entirety to a US-based end.
The property promises investors a projected distribution yield of 9.0% for FY26, 8.7% for FY27, and 8.6% for FY28, making it an attractive option for income-focused investors.
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Source: Moneycontrol
News Desk
