PropShare Celestia SME REIT IPO Sees 65% Subscription on Day One Amid Strong Investor Interest

Property Share Investment Trust’s third small and medium REIT scheme, PropShare Celestia, has made a solid start in the capital market, with its maiden public issue receiving 65 percent subscription on the very first day of bidding. The ₹245 crore initial public offering opened on April 10 and will remain available for subscription until April 16, reflecting growing investor confidence in India’s emerging real estate investment trust segment.

According to market data, investors placed bids for 1,509 units against the total offer size of 2,323 units on day one. The non-institutional investor category led the momentum, with this portion being subscribed 2.09 times, while the institutional segment recorded 17 percent subscription. The healthy response signals rising appetite for professionally managed income-generating commercial real estate assets.

The issue has been priced in the range of ₹10 lakh to ₹10.5 lakh per unit. Proceeds amounting to nearly ₹237.9 crore will primarily be utilised for funding the acquisition of the Celestia commercial project through special purpose vehicles. The remaining funds will be allocated towards offer-related expenses and general corporate purposes.

PropShare Celestia offers seven floors of Stratum at Venus Grounds, a premium Grade A+ mixed-use commercial development located in Nehru Nagar, Ahmedabad. The property is expected to attract investors seeking stable rental yield and long-term capital appreciation from commercial office assets.

This marks the third listed scheme under the SEBI-registered Property Share Investment Trust, following the successful launches of PropShare Platina and PropShare Titania on the BSE. The earlier schemes had collectively mobilised significant capital and strengthened investor trust in the small and medium REIT framework.

With the allotment expected on April 17 and listing scheduled for April 24 on the BSE, market participants will closely watch the subscription trend in the coming days as India’s REIT market continues to expand.