India's most expensive security: PropShare Platina REIT dethrones Elcid, MRF with Rs 10.45 lakh price tag

The company's Rs 353 crore issue was open for subscription from December 2 to December 4.

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26 Aug, 2025 12:21

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Move over Elcid Investments, there's a new sheriff in town! Following its debut on the bourses on December 10, PropShare Platina REIT has overtaken the holding firm to become the most expensive security available to trade.

In the previous session, the SM REIT settled at a whopping Rs 10.45 lakh per unit, after debuting at Rs 10.5 lakh per unit on the BSE on December 10.

While PropShare Platina REIT has taken over the incumbent's spot as the most expensive security, Elcid Investments still remains the priciest stock. On October 29, holding company Elcid Investments shares surged to Rs 2.36 lakh crore, overtaking MRF as the most expensive stock available to trade. The stock surged 66,92,535 percent from a meagre price of Rs 3.53 per share.

The sudden upmove came after Asia's oldest stock exchange BSE conducted a special auction for the price discovery for investment holding companies. This auction did not have any price banks, in an attempt for a fair price discovery.

Elcid Investments is one of the promoter entities in paints major Asian Paints, holding a stake of 2.95 percent, which is valued roughly at Rs 8,000 crore.

Also Read | Elcid Investments stock, priced at Rs 2.36 lakh, could be worth Rs 5.84 lakh; here's why

PropShare Platina REIT is the first company to bag the  SM REIT license after the securities market regulator Securities and Exchange Board of India notified the SM REIT regulations in March 2024.

The company's Rs 353 crore issue was open for subscription from December 2 to December 4, which received strong interest and was subscribed 1.19 times.

PropShare Platina features 246,935 square feet of office space within Prestige Tech Platina, a LEED Gold-certified office building situated on Outer Ring Road (ORR) in Bangalore. Developed by the Prestige Group, the property is set to be fully leased to a US-based technology company under a new 9-year lease agreement.

The scheme offers investors a projected distribution yield of 9.0 percent for FY26, 8.7 percent for FY27, and 8.6 percent for FY28.

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