11 May 2026
Deal: Trilegal advised on the second ever IPO in India by a scheme of an SM REIT
04 Aug 2025
04 Aug 2025
Trilegal advised Kotak Mahindra Capital Company Limited (the lead manager) in the second ever public issue of Units by a Scheme of an SM REIT. The IPO was undertaken by PropShare Titania, second scheme of the Propshare Investment Trust (“Scheme”), for an amount aggregating to ? 4,729.72 million. The proceeds of the IPO were used, for funding the acquisition of a special purpose vehicle (“Titania SPV”) which owns six floors in G Corp Tech Park, a Grade A+ commercial office development in Thane, Mumbai Metropolitan Region with a leasable area of 4,37,973 square feet.
The Propshare Investment Trust , established on June 27, 2024, is the first registered small and medium real estate investment trust registered on August 5, 2024, set up the Scheme for (i) acquiring the entire paid-up equity share capital of the Titania SPV and (ii) Providing loan to the Titania SPV for extinguishment and redemption of the debenture liability of the SPV.
Trilegal acted as a legal advisor to the lead manager, Kotak Mahindra Capital Company Limited. The units of the Scheme were listed on the BSE Limited on August 4, 2025.
The Trilegal Capital Markets Team advising on the matter was led by Partner: Abhinav Maker; and supported by Associates: Mrinal Kumar, Kalyan Reddy, and Animan Sharma.
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About Trilegal
Trilegal is a leading full-service law firm in India with over 25 years of experience, trusted for its in-depth expertise and client-centric approach. The firm advises a diverse set of clients, including Fortune 500 companies, global investment funds, major Indian conglomerates, domestic and international banks, technology and media giants, family offices, and high-net-worth individuals. With more than 140 partners operating under a distinctive lockstep model, Trilegal is the largest equity partnership in the country. The firm retains over 1,100 professionals across Mumbai, Delhi, Bengaluru, and Gurugram offices.
Trilegal has consistently been recognised among India’s top-tier firms in leading legal directories such as Chambers & Partners (Asia Pacific and Global), Legal 500 Asia Pacific, and Benchmark Litigation. It has also earned several prestigious accolades, including being named Best Overall Law Firm by India Business Law Journal (IBLJ) 2025, Innovative Lawyers in Disputes & Crisis Management by the Financial Times (FT) Innovative Lawyers Asia-Pacific Awards in 2025, M&A Firm of the Year by IFLR Asia-Pacific in 2024, Law Firm of the Year by Deal Volume at the VCCircle Awards in 2024, India Deal Firm of the Year at the Asian Legal Business (ALB) India Law Awards in 2023, and Best Law Firm to Work by Vahura in 2022.
For more information, please get in touch with Prakruti Jani | Mob: +91-9867868976 | BD@trilegal.com
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