The price band is set between ₹10.0 lakh and ₹10.6 lakh per Titania Unit. The minimum bid size is ₹10 lakh, with bids to be made for a minimum of one unit, and in multiples of one unit thereafter.
Institutional investors have been allocated 75% of the issue, while the remaining 25% is reserved for non-institutional investors (NIIs). There is no retail investor quota in the offering.The Investment Manager to the Trust is Property Share Investment Manager Private Limited.
The net proceeds from the IPO will be used as:
₹217 crore for acquiring the entire issued and paid-up equity of the Titania SPV under the Share Purchase Agreement.
₹232.94 crore to provide a loan to the SPV for the redemption of debenture liabilities, including outstanding optionally convertible debentures (OCDs) and accrued interest.The balance will be used for general corporate purposes.
As per regulatory requirements, Property Share will invest a minimum of 5% of the Titania Units from its own capital as part of the offering.
PropShare Titania consists of a 4,37,973 sq. ft. Grade A+ office space located in G Corp Tech Park, Thane, part of the Mumbai Metropolitan Region. The asset is 100% leased to a diversified tenant base that includes Fortune 500 companies, MNCs, and blue-chip firms such as Aditya Birla Capital and Concentrix.
The property holds multiple ESG certifications, including LEED Platinum (O&M), WELL Health and Safety Rating, and a BEE 5-Star rating. The scheme offers a projected distribution yield of 9.0% for FY26 to FY28, and 8.7% for FY29.
Strategically located on Ghodbunder Road in Thane, the project benefits from proximity to a large residential catchment area and robust social infrastructure, according to a JLL Report.
Kotak Mahindra Capital Company is the sole book-running lead manager to the issue, while KFin Technologies is the registrar.
Allotment is expected on July 30, with a tentative listing date on the BSE scheduled for August 4.
