PropShare Platina REIT has made a remarkable debut on the stock exchange, listing on December 10 and quickly becoming the priciest security available for trading, overtaking its parent company. In the previous session, the stock price settled at a staggering Rs 10.45 lakh per unit, following its debut at Rs 10.5 lakh per unit on the Bombay Stock Exchange (BSE) on December 10.

Notably, PropShare Platina REIT has surpassed others to become the most expensive security, Elcid Investments retains its position as the costliest stock. Furthermore, PropShare Platina REIT has made history by becoming the first company to obtain the SM REIT license, following the Securities and Exchange Board of India’s (SEBI) notification of the SM REIT regulations in March 2024.

On October 29, Elcid Investments, the holding company, saw its shares skyrocket to a staggering Rs 2.36 lakh crore, dethroning MRF as the most expensive tradable stock. Notably, this surge represents a remarkable 66,92,535% increase from its humble starting price of just Rs 3.53 per share.

Additionally, the unexpected surge in Elcid Investments’ shares was triggered by a special auction conducted by the BSE, Asia’s oldest stock exchange, aimed at price discovery for investment holding companies. Notably, this auction was designed to facilitate fair price discovery, as it did not impose any price bands.

PropShare Platina REIT: More Details!

The initial public offering (IPO) of PropShare Platina REIT began on December 2, 2024, and concluded on December 4, 2024. The IPO’s price band was set between Rs 10 lakh and Rs 10.50 lakh per unit. The company’s Rs 353 crore IPO garnered robust demand, subscribing 1.19 times during its three-day subscription period.

Most Expensive Listed Securities

(As of close on December 12, 2024)

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