PropShare Celestia REIT IPO Hits 65% Subscription Day 1, NIIs Drive Demand

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AuthorIshaan Verma|Published at:
PropShare Celestia REIT IPO Hits 65% Subscription Day 1, NIIs Drive Demand
Overview

PropShare Celestia REIT's initial public offering showed strong demand on its first day, achieving 65% subscription. The Rs 245-crore issue saw non-institutional investors bid 2.09 times their allocated portion. The REIT aims to raise funds for project acquisition, with a price band of Rs 10 lakh to Rs 10.5 lakh per unit.

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First Day Subscription Performance

The subscription window for the Rs 245-crore PropShare Celestia REIT IPO is open until April 16. The offering made a strong start, with 65% of units subscribed on its first day. Notably, non-institutional investors (NIIs) demonstrated significant interest, bidding 2.09 times their reserved portion. This early demand suggests a positive reception from high-net-worth individuals.

Fundraising for Project Acquisition

Funds raised from this offering are designated for providing loans to Celestia SPVs (special purpose vehicles). This capital will also be used for subscribing to the equity shares and convertible debentures of these SPVs. The primary goal is to facilitate the acquisition of the project known as Celestia by these entities.

Project Details

The project itself, named Stratum at Venus Grounds, is situated in Ahmedabad's Nehru Nagar. It is described as a Grade A+ mixed-use commercial building, indicating a focus on quality commercial real estate assets.

Track Record of Predecessor REITs

PropShare Celestia REIT is the third scheme launched by Property Share Investment Trust. Its earlier offerings, PropShare Platina and PropShare Titania, debuted on the BSE in late 2024 and mid-2025 respectively. PropShare Platina raised Rs 353 crore for a Bangalore property, while PropShare Titania garnered Rs 473 crore for a tech park in Thane. PropShare Celestia is expected to list on the BSE on April 24, following the finalization of unit allotments by April 17.

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Disclaimer:This content is for educational and informational purposes only and does not constitute investment, financial, or trading advice, nor a recommendation to buy or sell any securities. Readers should consult a SEBI-registered advisor before making investment decisions, as markets involve risk and past performance does not guarantee future results. The publisher and authors accept no liability for any losses. Some content may be AI-generated and may contain errors; accuracy and completeness are not guaranteed. Views expressed do not reflect the publication’s editorial stance.