Property Share Investment Trust Plans Rs 410 Crore Asset Divestment

Enterprise Value: Rs 410.13 crore
Transaction Status: Non-binding term sheet signed

Reader Takeaway: The proposed divestment of PS Platina assets aims for liquidity but remains subject to extensive due diligence requirements.

What just happened

Property Share Investment Trust has announced a significant step toward liquidating its PS Platina scheme (Scrip: 544295). The Trust has signed a non-binding term sheet with the Investment Manager of a Category-II Alternative Investment Fund. The proposed transaction involves the sale of all assets housed within the PS Platina scheme, structured through the transfer of the entire share capital and associated instruments of its underlying Special Purpose Vehicles (SPVs).

Why this matters

The deal carries an enterprise value of approximately Rs 410.13 crore. This move marks a strategic shift for the Trust, potentially allowing it to unlock value for unitholders by exiting the specific assets held under the Platina scheme. The final cash consideration will be determined by customary adjustments such as working capital and tax obligations upon closing.

The backstory

The decision to pursue this sale follows an evaluation by the Investment Manager during the board meeting held on July 13, 2026. At that time, the board authorized leadership to explore potential buyers for the assets, a strategic direction that has now culminated in this non-binding agreement signed on October 21, 2026.

Risks to watch

Investors should note that the term sheet is explicitly non-binding. The deal is not a finalized sale and remains contingent on:

• Successful completion of comprehensive due diligence by the buyer.
• Execution of final, definitive binding agreements.
• Receipt of necessary regulatory and third-party approvals.
• Fulfillment of all pre-closing conditions agreed upon by both parties.

What to track next

Market participants should watch for further filings regarding the execution of definitive agreements or any regulatory disclosures confirming the successful completion of due diligence. Any change in the enterprise value following the adjustment period will also be a key figure to monitor.