PropShare Celestia IPO: Check issue size, price band, key dates and more

Propshare Celestia IPO: Property Share Investment Trust, India's first registered Small and Medium Real Estate Investment Trust (SM REIT), will launch its ₹244.65 crore initial public offering (IPO) of PropShare Celestia on April 10.

The issue, with a price range of ₹10 to ₹10.50 lakh per unit, will end on April 16.

PropShare Celestia is the third SM REIT launched by Property Share Investment Trust.

The initial share sale will consist solely of a fresh issuance of units, with no offer for sale (OFS) component.

The funds generated will be used to acquire Project Celestia and payment of the sinking fund to society by Celestia SPVs, and reimbursement or direct payment, as applicable, of statutory charges to the investment manager for the proposed acquisition by way of lending to the Celestia SPVs and subscribing to the equity and debt instruments of our Celestia SPVs. A part will also be used for general corporate purposes.

Investors can apply for a minimum of 1 unit worth ₹10 lakh, which is the minimum investment amount for SM REITs, and in multiples thereafter.

Propshare Celestia IPO: Key dates

PropShare Celestia represents the scheme's offering across seven floors in Venus Grounds, a Grade A+ mixed-use commercial building with a unique atrium situated in prime Nehru Nagar, Ahmedabad.

The underlying asset, Project Celestia, has a super built-up area of 2,07,838 square feet and is fully occupied by four tenants, including three managed-office operators – EFC Limited, Smartworks Coworking Spaces Limited and Paragraph Khajanchi Business Centre LLP – and a Swedish-based listed telecommunications MNC.

PropShare Celestia is looking at a projected distribution yield of 8.1% for the financial year 2025-26 (FY26), 8.4% for FY27, 8.7% for FY28 and 8.9% for FY29.

Ambit is the issue's lead manager, while KFin Technologies serves as the registrar. The units are proposed to be listed on BSE.