India’s first SEBI registered small and medium real estate investment trust (Property Share Investment Trust) (“SM REIT”), has filed the scheme offer documents (key information of the trust and key information of the scheme) and launched an initial public offering (“IPO”) of its second scheme (“PropShare Titania”) of INR 4,730 millions (“Offer Size”), under the Securities and Exchange Board of India (Real Estate Investment Trusts) Regulations, 2014, as amended (“REIT Regulations”).
The IPO has been subscribed 1.61 times overall of the Offer Size and 6.42 times of the non-institutional investors portion.
CAM was the Indian legal counsel to the SM REIT and PropShare Investment Manager Private Limited (“Investment Manager”) in relation to the IPO of PropShare Titania. The units of the PropShare Titania have been listed on BSE Limited on August 4, 2025.
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.
