Mumbai11 minutes ago
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The IPO of India's first registered small and medium trust (SM-REIT), Property Share Investment Trust (PSIT), will open on December 2. Investors will be able to bid for this issue till December 4. The company's shares will be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on December 9.
PSIT wants to raise a total of Rs 352.91 crore through this issue. For this, the company will issue 3,361 fresh shares worth ₹352.91 crore. Existing investors of Property Share Investment Trust will not sell a single share through Offer Fos Sale i.e. OFS.
Price Band: ₹10 lakh to ₹10.5 lakh
The company has fixed the price band of PSIT IPO at ₹10 lakh to ₹10.5 lakh per equity share. Investors can bid for a minimum of 1 share. The registrar for the Property Share Investment Trust REIT IPO will be Kfin Technologies Ltd and the book-running lead manager of the book-built issue is ICICI Securities Ltd.
75% of the issue reserved for institutional investors
Property Share Investment Trust has reserved 75% of the issue for institutional investors. Apart from this, 25% share has been reserved for other investors.
What is IPO?
When a company issues its shares to the general public for the first time, it is called Initial Public Offering i.e. IPO. The company needs money to expand its business. In such a situation, instead of taking loan from the market, the company raises money by selling some shares to the public or issuing new shares. For this the company brings IPO.
