Tag: SM-REIT

IndustryLatest Stories

PropShare Celestia Units Drop Over 1% on Trading Debut

NEW DELHI: PropShare Celestia’s units concluded their first trading day over 1% lower on Friday. The units commenced trading at ₹9,99,900.01, reflecting a 4.77% drop from the issue price of ₹10,50,000 per unit listed on the BSE. They eventually settled at ₹10,35,000, down by 1.42%. The market valuation of the company is now at ₹241.16 crore. On the final day of the subscription last Thursday, PropShare Celestia’s initial public offering (IPO) received a subscription rate of 1.33 times. This marks the third Small and Medium Real Estate Investment Trust (SM REIT) launched by Property Share Investment Trust. The ₹244-crore issue…

IndustryLatest Stories

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…

IndustryLatest Stories

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…

IndustryLatest Stories

India’s SM REIT Market to Exceed $75 Billion: CBRE

Illustrative AI image NEW DELHI: The market for India’s small and medium real estate investment trusts (SM REITs) has the potential to surpass USD 75 billion, supported by over 500 million sq ft of qualifying office, logistics, and retail assets, as highlighted in a report by CBRE South Asia. SM REITs, which were introduced under SEBI’s regulatory framework in 2024, facilitate fractional ownership of income-generating properties typically valued between ₹50 crore and ₹500 crore, allowing smaller investors to engage in commercial real estate. CBRE indicates that this segment could enhance the institutional framework for mid-sized assets and promote increased transparency,…

IndustryLatest Stories

Aurum PropTech Secures SEBI Approval for SM-REIT Launch

Representative image created by AI NEW DELHI: Aurum PropTech has received approval from the markets regulator SEBI to launch its Small and Medium Real Estate Investment Trust (SM-REIT) as part of its expansion plans. The company intends to list the SM-REIT schemes on stock exchanges, allowing retail investors the opportunity for fractional ownership of rent-generating premium office assets. Aurum PropTech announced in a regulatory filing on Friday that it is the first publicly listed company in India to obtain a registration certificate from SEBI for an SM-REIT, which will operate under the name AMSA SM REIT Investment Trust (AMSA). “This…