Tag: PropShare Celestia

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PropShare Celestia’s ₹244 Crore IPO Sees 1.33x Subscription

NEW DELHI: PropShare Celestia’s initial public offering (IPO) was 1.33 times over-subscribed on its closing day, Thursday. This marks the third Small and Medium Real Estate Investment Trust (SM REIT) launched by Property Share Investment Trust. The IPO, valued at Rs 244 crore, saw bids for 3,090 units compared to 2,323 units available, according to BSE data. In the other investors category, subscription was 4.81 times, while institutional investors subscribed only 17%. The price band for the issue is set at Rs 10-10.50 lakh per unit. This public offering consists solely of new units with no offer for sale. The…

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Property Share files for ₹244 crore IPO of third SM REIT

Illustrative NEW DELHI: Property Share Investment Trust, the first registered Small and Medium Real Estate Investment Trust (SM REIT) in the country, has submitted the draft IPO documents for its third scheme, PropShare Celestia, aiming for an issue size of up to Rs 244.65 crore. The public offering will consist solely of a fresh issue of units, with no components for sale, according to the documents. The underlying asset, Project Celestia, boasts a super built-up area of 2,07,838 sq ft and is fully leased. The property features four main tenants, which include three managed office providers: Smartworks Coworking Spaces, EFC…