Have you heard of PropShare Platina REIT? If you haven’t you cannot be blamed. It has emerged as the most expensive security available for trade for any investor in the Indian markets. The most interest aspect is that it has opened its innings at the bourses only on December 10, making it one of the newest securities.
PropShare Platina REIT has left Elcid Investments, which functions as an NBFC (non-banking financial company) registered with the Reserve Bank of India. As an investment company, it shot into fame when a special call action in late October took its valuation well past that of MRF, India’s most valuable stock for years.
Whopping price of PropShare Platina REIT
On December 10, 2024, the REIT made its debut on BSE at an incredible price of Rs 10.5 lakh. December 11, the price of the security settled at Rs 10.45 lakh. Significantly, PropShare Platina REIT IPO was open for subscription between December 2 and December 4, 2024 and attracted a subscription of 1.19 times. The IPO had raised Rs 353 crore.
PropShare Platina REIT has the distinction of being the first company to bag the SM REIT license after the momentous decision of securities market regulatory body SEBI notifying the SM REIT regulations in March 2024. PropShare Platina has 246,935 square feet of office space within Prestige Tech Platina, which is located in Bangalore. This structure is a LEED Gold-certified office building. It is constructed by the Prestige Group. Investors has been promised a distribution yield of 9.0% in FY26, 8.7% in FY27 and 8.6% in FY28.
Elcid Investments still the priciest stock
While PropShare Platina REIT is certainly the most expensive security, the crown of the most expensive stock still belongs to Elcid Investments. On December 12, the stock of Elcid Investments declined by Rs 10,381.86 (or 5.00%) and settled at Rs 1,97,255.84. Its 52-week high stands at the apparently incredible figures of Rs 3,32,399.94 and the 52-week low stands at Rs 3.53.
A couple of months ago Elcid Investments, a little known Mumbai-based investment firm, took D Street by surprise when it humbled MRF as the most expensive stock in India. But now there is a new don on D Street. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
