PropShare Titania SM REIT Launches ₹472 Cr IPO Backed by Fully Leased Grade A+ Mumbai Asset

Property Share Investment Trust (PSIT), India's first Small and Medium Real Estate Investment Trust (SM REIT), is preparing to raise ₹472 crore through an IPO for its second scheme, PropShare Titania. This offering follows the successful debut of its first SM REIT, PropShare Platina, in November 2024.

Thane-Based Grade A+ Asset at the Core

The REIT’s underlying asset is a 437,973 sq ft Grade A+ commercial office property located at G Corp Tech Park, Ghodbunder Road in Thane, part of the Mumbai Metropolitan Region. The space is fully leased to a diversified tenant base that includes large corporates such as Aditya Birla Capital and Concentrix. Tenants have shown long-term commitment, with an average stay of over nine years, a weighted average lease expiry of 3.3 years, and annual rental escalations set at 5%.

Certified Green and Strategically Located

The asset has received several ESG certifications, including LEED Platinum, WELL Health and Safety Rating, and BEE 5-Star Certification. Located near the upcoming Metro Line 4, the project enjoys excellent connectivity and is close to a large residential population, further adding to its appeal.