PropShare Celestia IPO Sees Near-Universal Subscription, Offer Extended Through Tomorrow
Detailed Analysis
PropShare Celestia Raises Rs 245 Crore via Maiden Public Issue
PropShare Celestia, the third scheme of India's first small and medium real estate investment trust Property Share Investment Trust, has garnered up to 98 percent subscription for its maiden public issue on April 15. The REIT approached capital markets on April 10 to raise nearly Rs 245 crore via initial public offering (IPO), marking the lowest amount of fund raising amongst the three schemes launched by the Trust since 2024.
| Scheme | IPO Amount (Rs Crore) | Year | | --- | --- | --- | | PropShare Platina | 353 | 2024 | | PropShare Titania | 473 | 2025 | | PropShare Celestia | 245 | 2026 |
The price band for the issue, which closes on April 16, is Rs 10 lakh to Rs 10.5 lakh. The public issue of PropShare Celestia has received bids for 2,280 units in the last three days against an offer size of 2,323 units, with non-institutional investors at the forefront.
The portions set aside for non-institutional investors and institutional investors were subscribed 3.42 times and 17 percent, respectively. The REIT has reserved 75 percent of the IPO size for institutional investors, and the remainder 25 percent for non-institutional investors.
PropShare Celestia will utilize Rs 237.9 crore of proceeds from the IPO for the acquisition of the project Celestia and payment of the sinking fund to society by Celestia SPVs, as well as reimbursement or direct payment to the investment manager PropShare Investment Manager for the proposed acquisition. The scheme proposes to have six SPVs - Cendrix Realty Private Limited, Crestmont Realty Private Limited, Dhrivya Estates Private Limited, Magnivio Private Limited, Samvrid Realty Private Limited, and Stathos Private Limited - under its structure (Celestia SPVs).
The PropShare Celestia scheme offers investors access to 2,07,838 square feet of area across seven floors of Stratum at Venus Grounds, the Grade A+ mixed-use commercial building in prime Nehru Nagar, Ahmedabad. As of December 2025, it is 100 percent occupied by four tenants, including three managed office operators – Smartworks Coworking Spaces, EFC, and Paragraph Khajanchi Business Centre LLP, and a Swedish-based listed telecommunications MNC.
Ambit is acting as the lead manager for managing the PropShare Celestia IPO.
Investor Takeaway
PropShare Celestia's IPO has seen near-universal subscription, with 98% of the issue subscribed.
