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Propshare Titiana a second scheme of Property Share Investment Trust opens its IPO for subscription on July 21st 2025, and closes on July 25th 2025. It is a book-built issue that offers a fresh issue of shares aggregating up to Rs.4,730 million.

The price bid ranges is set to go public on August 4th 2025 on the Bombay Stock Exchange (SME).

Property Share Investment Trust, India's first small and medium real estate investment trust registered with the Securities and Exchange Board of India has launched its second scheme, PropShare Titania.

It provides investors an opportunity to invest in various office premises across six floors of G Corp Tech Park, a Grade A+ commercial office building, located in Thane, Mumbai Metropolitan Region. It has a leasable area of 4,37,973 square feet and is fully leased to a mix of Fortune 500 companies, multinational companies (“MNCs”), healthcare companies and bluechip tenants.

It has evolved to become a key office destination due to its strategic location and connectivity, competitive office rentals and quality standard of living.

Table of Contents
Details Of Propshare Titiana IPO
Objectives of Propshare Titiana IPO
Industry Outlook
Strengths and Risks of Propshare Titiana
Strength:
IPO Subscription Details
Frequently Asked Questions

Details Of Propshare Titiana IPO

IPO Review: Propshare Titania
  • Fresh Issue Size: It offers equity shares aggregating up to Rs.4,730 million.
  • Price Band: Rs.10,00,000 to Rs.10,60,000 per unit. 
  • Issue Type: The IPO is a book-built issue.
  • Lot size: It provides a lot size of 1.
  • Subscription date: The issue period begins on July 21st 2025 and ends on July 25th 2025.
  • Listing Date: The IPO is going to be listed on August 1st 2025.
  • Stock Exchange: The IPO is going to be listed on BSE (SME).

    • Objectives of Propshare Titiana IPO

    The company plans to allocate the net proceeds of the IPO for Acquisition of 100% equity share capital of the Titania SPV, provide loan to Titania SPV to repay its outstanding debenture, and for general corporate purposes.

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    Industry Outlook

    India has exhibited remarkable growth with its urban population drastically increasing. The country over the last two decade has scene rapid changes in terms of globalization and capitalization, with many big foreign companies investing in India, and domestic companies entering the global market.

    India is constantly experiencing urbanization due to its growing population, and is projected to reach over 880 million by 2050, up from 532 million in 2024, driving long-term demand for real estate assets across residential, commercial, and office segment.

    India’s office market has witnessed significant growth, with Grade A office stock, growing nearly 14.3 times, from ~59.5 mn sq ft in 2004 to around 853.7 mn sq ft as of December 2024.

    The demand for organized commercial spaces is expected to stay strong in the coming decade due to the 42% of the population under 25 and a growing working-age group.

    India’s office sector has grown at a remarkable pace, driven by strong market fundamentals. At the same time, India continues to be the most affordable real estate market amongst its global and regional peers, making it a preferred destination for businesses looking to optimize expenses.

    Strengths and Risks of Propshare Titiana

    Strength:

  • Propshare Titiana is the second scheme launched by Property Share Investment Trust as India's first small and medium real estate investment trust registered with the Securities and Exchange Board of India. 
  • It provides investors an opportunity to invest in various office premises across six floors of G Corp Tech Park, a Grade A+ commercial office building, located in Thane, Mumbai Metropolitan Region. 
  • It has a leasable area of 4,37,973 square feet and is fully leased to a mix of Fortune 500 companies, multinational companies (“MNCs”), and bluechip tenants.
  • Some of its leased tenants include Aditya Birla Capital (including its subsidiaries and group companies) – an Indian MNC conglomerate operating in the BFSI sector (“Aditya Birla Capital”), Convergys India Services Private Limited (acquired by Concentrix) (“Concentrix”), a Fortune 500 Healthcare company and a Japanese MNC Conglomerate. 
  • PropShare Titania offers a projected distribution yield of 9.0% for the financial year 2026, 9.0% for the financial year 2027, 9.0% for the financial year 2028, and 8.7% for the financial year 2029.
    • Weakness;
  • The execution of the financial transactions of the issue would be subject to fulfillment of certain conditions, the company’s ability consummate these transactions would impact the ability of the investment manager to complete the issue.
  • Titana SPV is involved in an outstanding tax litigation of Rs. 710.11 million, any adverse outcome may adversely affect the company's operations and financial conditions.
  • The company’s business, revenue and profitability depends on the performance of the commercial real estate market, any fluctuation in the market may adversely affect the company's operations and financial conditions.
  • The Company derives significant revenue from a limited number of large lessees and from a single submarket. Any conditions that impact these lessees, or submarkets may adversely affect the company’s business, revenue from operations and financial conditions.
  • The company’s actual results may be materially different from the Projections included in this Key Information of the Scheme.
  • Tenant leases across the company’s SM REIT Asset are subject to the risk of non-renewal, non-replacement, default, early termination, regulatory or legal proceedings or changes in applicable laws or regulations, thereby impacting leasing and other income. Further, vacant properties could be difficult to lease, which could adversely affect the company’s revenues.

    • IPO Subscription Details

    Property Share Investment Trust by way of Propshare Titiana is a book-built issue of Rs.4,730 million. The bid price ranges from Rs.10,00,000 to.10,60,000 per unit for a lot size of 1. The issue period begins from July 21st 2025, and ends on July 25th 2025, and is scheduled to go public on August 4th 2025 on the SME platform of BSE.

    Expert Recommendations

    India’s Real estate industry has been rapidly increasing due to the rising urban population and globalization, with many domestic and international companies entering the Indian market, the demand for premium office spaces has shown steady growth.

    The Company’s commercial building is located at a prime market in MMR-Thane, Maharasthra and has shown healthy financial growth with may big companies as its tenants. There are also certain risks factors outlined in the RHP draft and the investors should go through it before investing.

    Key Takeaways

    The company aims to utilize the net proceeds of the IPO for Acquisition of entire issue and paid-up capital of the Titania SPV as per the sale purchase agreement, provide loan to Titania SPV to repay its outstanding debenture, and for general corporate purposes.

    The trust has shown string fundamentals with prominent clientele, but is also subject to many risks, which the investor should outline before investing.

    Frequently Asked Questions

    1. When is the Propshare Titiana IPO being listed?

    The IPO is set to go public on August 4th 2025.

    2. Is the Propshare Titiana IPO fairly priced?

    The basic and diluted P/E ratio is 14.80. The bid price is fixed at Rs.65 per share.

    3. Where else can we get more information about the Propshare Titiana IPO?

    You can get more information about the IPO on the BSE website and at the below website.

    1. https://www.propertyshare.in/


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