NEW DELHI: Property Share, a fractional ownership platform (FOP), has received the Small and Medium Real Estate Investment Trust (SM REIT) license from the Securities and Exchange Board of India (SEBI) on Friday under the newly notified SM REIT regulations.
The licence is registered to Property Share Investment Trust (PSIT). Property Share will become the investment manager to PSIT.
Kunal Moktan, co-founder of the company said, “We look forward to continue working closely with SEBI in launching the IPO of the first SM REIT scheme in the weeks to come.”
In March 2024, SEBI notified the SM REIT regulations to bring FOPs within the regulatory framework as a subclass within the REIT regulations for assets valued between Rs 50 and 500 crore. Similar to REITs, SM REITs are fully regulated by SEBI with units of each of the schemes listed on the stock exchanges.
In June 2022, the company had raised Rs 347 crore in a Series B round from WestBridge Capital.
Source Homevior.in
