Archive · 6 Aug 2026
Property Share Files Rs 485-Crore Draft IPO for PropShare Lumina
Property Share is a company that owns big office buildings and lets everyday people buy small parts of them.
It is the first company in India to get a special licence for this kind of investing.
The company has now filed paperwork to start a fourth investment plan called PropShare Lumina.
This plan is about two office towers at a business centre in Noida.
The plan covers 4,37,025 square feet of office space, and all of it is rented out to 19 different companies.
The plan aims to raise up to Rs 485 crore from people who want to invest.
Before a new rule, only large institutions could buy into such commercial buildings.
A regulator called Sebi created the SM REIT rule so smaller investors could join safely.
The investment units will be sold on a stock exchange called the BSE.
Property Share Investment Trust, India's first registered SM REIT, has filed draft IPO papers for its fourth scheme, PropShare Lumina, with an issue size of up to Rs 485 crore.
The scheme offers retail investors a stake in two towers at the OESPL Business Centre in Noida.
PropShare Lumina has a super built-up area of 4,37,025 sq ft and is 100% leased to a diversified portfolio of 19 tenants.
SM REITs are a newly regulated Sebi asset class giving smaller investors a structured way to own commercial properties, restricted to fully completed properties valued between Rs 50 crore and Rs 500 crore.
HDFC Bank is the sole lead manager, KFin Technologies is the registrar, and the units are proposed to be listed on the BSE.
- Who
- Property Share Investment Trust, India's first registered Small and Medium Real Estate Investment Trust (SM REIT), whose co-founder Kunal Moktan commented on the filing.
- What
- Filed draft IPO papers for its fourth SM REIT scheme, PropShare Lumina, with an issue size of up to Rs 485 crore, offering units in two Noida office towers.
- When
- Announced August 6, with the filing datelined New Delhi.
- Where
- New Delhi (filing), with the asset located at the OESPL Business Centre in Noida and units proposed for listing on the BSE.
- Why
- To give retail investors access to institutional-quality commercial real estate that was historically restricted to institutional buyers.
- Company
- Property Share Investment Trust
- Scheme
- PropShare Lumina (fourth SM REIT scheme)
- Issue size
- Up to Rs 485 crore (Rs 4,846.80 million)
- Asset location
- Two towers at OESPL Business Centre, Noida
- Leased area
- 4,37,025 sq ft, 100% leased to 19 tenants
- Lead manager
- HDFC Bank
- Registrar
- KFin Technologies
- Regulator
- Securities and Exchange Board of India (Sebi)