PropShare Celestia Secures 1.33 Times Subscription in Final IPO Round, Listing Anticipated for Next Week

PropShare Celestia's Maiden Public Issue Sees Decent Response from Investors

PropShare Celestia's initial public offering (IPO), owned by Property Share Investment Trust, has received a decent response from investors. The public issue, which closed on April 16, the final day of bidding, saw 1.33 times subscription. This is a significant milestone for the maiden public issue of PropShare Celestia, which is the third scheme set up by Property Share Investment Trust in December 2025.

According to the subscription data available with the BSE, the IPO received bids for 3,090 units in the last four days since April 10, against the offer size of 2,323 units. The data highlights the strong interest in the public issue, with non-institutional investors providing the biggest support, bidding 4.81 times their allotted quota. In contrast, the portion set aside for institutional investors was subscribed at a mere 17 percent.

The IPO share allotment will be finalised by April 17, while the trading in PropShare Celestia units will commence on the BSE on April 24. The price band for the maiden public issue was Rs 10 lakh - Rs 10.5 lakh per unit. PropShare Celestia offers investors seven floors of Stratum at Venus Grounds, a Grade A+ mixed-use commercial building in prime Nehru Nagar, Ahmedabad, having a 2,07,838 square feet area. The building is 100 percent occupied by four tenants, including three managed-office operators and a Swedish-based listed telecommunications MNC.

The proceeds from the IPO will be utilised by PropShare Investment Manager to provide a loan to Celestia SPVs (special purpose vehicle) for acquiring the portion of the project Celestia. The remainder of the funds will be used for offer expenses and general corporate expenses of the Celestia SPVs. PropShare Celestia has proposed to have six SPVs under its structure - Cendrix Realty, Crestmont Realty, Dhrivya Estates, Magnivio, Samvrid Realty, and Stathos.

In the past, PropShare Investment Manager had launched two schemes - PropShare Platina in December 2024, and PropShare Titania in August 2025, which raised Rs 353 crore and Rs 473 crore respectively via IPOs. AltInvest Online Platform, the parent company of PropShare Investment Manager, is backed by prominent institutional investors including Westbridge Capital, Lightspeed India, BEENEXT, and Pravega Ventures. Ambit is the lead manager for the PropShare Celestia IPO, while Axis Trustee Services is the Trustee to the scheme.