Titanium company PropShare's IPO sees a funding of approximately ₹473 crore, following action by CAM and Trilegal.
Cyril Amarchand Mangaldas and Trilegal Advise on PropShare Titania's INR 473 Crore IPO
Cyril Amarchand Mangaldas (CAM) and Trilegal have jointly advised on the INR 473 crore Initial Public Offering (IPO) of PropShare Titania, the second scheme of India’s first Small and Medium Real Estate Investment Trust (SM REIT) registered with the Securities and Exchange Board of India (SEBI).
Cyril Amarchand Mangaldas acted as the Indian legal counsel for PropShare Titania, with Kranti Mohan, Partner and Head of REITs and InvITs, leading the transaction team. Key support came from Subham Jain (SA - Designate), Parikha Rathi (Associate), and Anshum Agarwal (Associate). The general corporate team included Pranjita Barman (Partner), Subhalaxmi Hota (Associate), and Saakshi Tibrewal (Associate). Additionally, Jinal Mehta (Partner) advised on real estate aspects of the transaction, supported by consultant Anjali Kadam.
On the other hand, Trilegal advised the book running lead manager, Kotak Mahindra Capital Company Limited, for this IPO. Abhinav Maker (Partner) led the transaction team, with associates Mrinal Kumar, Kalyan Reddy, and Animan Sharma providing support.
PropShare Titania owns six floors in G Corp Tech Park, a Grade A+ commercial office development in Thane, Mumbai Metropolitan Region. The leasable area of G Corp Tech Park is 4,37,973 square feet. This IPO marks the second ever public issue of Units by a Scheme of an SM REIT.
The proceeds of the IPO were used for funding the acquisition of a special purpose vehicle, Titania SPV, which owns the commercial office development in Thane. No information about any form filling for publication on Bar & Bench was provided in this context.
This collaboration supported the successful completion of PropShare Titania's IPO, furthering the growth of the SM REIT sector in India.
Investing in the PropShare Titania IPO was facilitated by the legal advice provided by Cyril Amarchand Mangaldas, with Kranti Mohan leading the team, focusing on finance and real-estate aspects of the business. Simultaneously, Trilegal advised the book running lead manager, aiding in the investing process, with Abhinav Maker leading their team.
