India, April 9 -- hBits, a platform for fractional investment in commercial real estate, has received a license from the Securities and Exchange Board of India (SEBI) to launch its Small & Medium Real Estate Investment Trust (SM REIT) public issue and plans to raise up to Rs.500 crore.

The company plans to launch its maiden SM REIT IPO by June 2025. Over the next few weeks, hBits will also migrate its existing portfolio of premium commercial properties into the SM REIT structure, the company said in a statement.

This move marks the beginning of a new chapter for hBits as it seeks to democratize access to high-quality commercial real estate assets for retail investors. The SM REIT structure, governed by SEBI, is expected to significantly...