PropShare Celestia REIT IPO opens April 10: Key details before subscribing to ₹244 crore issue

The price band has been fixed at ₹10 lakh to ₹10.5 lakh per unit, positioning the offering as a high-ticket investment targeted at sophisticated and institutional investors.

By CNBC-TV18

The initial public offering (IPO) of PropShare Celestia REIT will open for subscription on Friday, April 10, with the company aiming to raise ₹244.65 crore through a completely fresh issue.

The issue will close on April 16.

This will be the third scheme launched under Property Share Investment Trust, India's first Securities and Exchange Board of India-registered small and medium real estate investment trust.

The price band has been fixed at ₹10 lakh to ₹10.5 lakh per unit, positioning the offering as a high-ticket investment targeted at sophisticated and institutional investors.

The proceeds from the issue will primarily be used to acquire the Celestia asset, a Grade A-plus commercial property located in the Nehru Nagar area of Ahmedabad. The development spans over 2.07 lakh square feet and comprises seven floors within the Stratum at Venus Grounds complex.

Of the total proceeds, around ₹238 crore will be utilised towards acquisition-related expenses, including statutory charges.

The asset has a diversified tenant base, including companies such as Tech Mahindra, financial institutions, data analytics firms, and co-working operators like Smartworks and EFC. This diversified occupancy is expected to support stable rental income and consistent occupancy levels.

Ambit is the book-running lead manager to the issue, while Kfin Technologies is the registrar.

The allotment is expected to be finalised on April 17, and the units are likely to list on the BSE on April 24, 2026.