Propshare Celestia SM REIT IPO Closes at 1.33x Subscription

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Moderate Demand Response:

₹244.65 crore IPO subscribed 1.33 times April 16. Received bids for 3,090 units against 2,323 on offer. Price band ₹10-10.50 lakh per unit—India's third SM REIT IPO.

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Segment-Wise Breakdown:

Non-institutional investors (NIIs) lead with 4.81x subscription. Institutional investors portion subscribed only 17%. Total demand generated ₹324 crore. Allotment finalized April 17, listing next week.

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Property Acquisition Details:

Funds to acquire 7 floors (2,07,838 sq ft) in Venus Stratum, Grade A+ mixed-use commercial building, prime Nehru Nagar, Ahmedabad. 100% occupied by 4 tenants, 10 occupiers.

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Tenant Profile Strong:

Managed by Smartworks, EFC, Paragraph Khajanchi coworking operators. Occupiers include 3 Fortune Global 500 firms, Tech Mahindra, Swedish telecom MNC, US professional services firm, Indian private bank.

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Third SM REIT Scheme:

Property Share Investment Trust's third scheme after Platina (1.61x) and earlier Platina (1.19x). Fresh issue only, no OFS. ₹237.9 crore for acquisition, remainder for expenses. Projected 9% distribution yield FY26-28.

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With Our Subscription Plans

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Propshare Celestia SM REIT IPO Closes at 1.33x Subscription

Moderate Demand Response: ₹244.65 crore IPO subscribed 1.33 times April 16. Received bids for 3,090 units against 2,323 on offer. Price band ₹10-10.50 lakh per unit—India's third SM REIT IPO.

Segment-Wise Breakdown: Non-institutional investors (NIIs) lead with 4.81x subscription. Institutional investors portion subscribed only 17%. Total demand generated ₹324 crore. Allotment finalized April 17, listing next week.

Property Acquisition Details: Funds to acquire 7 floors (2,07,838 sq ft) in Venus Stratum, Grade A+ mixed-use commercial building, prime Nehru Nagar, Ahmedabad. 100% occupied by 4 tenants, 10 occupiers.

Tenant Profile Strong: Managed by Smartworks, EFC, Paragraph Khajanchi coworking operators. Occupiers include 3 Fortune Global 500 firms, Tech Mahindra, Swedish telecom MNC, US professional services firm, Indian private bank.

Third SM REIT Scheme: Property Share Investment Trust's third scheme after Platina (1.61x) and earlier Platina (1.19x). Fresh issue only, no OFS. ₹237.9 crore for acquisition, remainder for expenses. Projected 9% distribution yield FY26-28.