PropShare Celestia IPO to Open April 10, Targets Premium Office Asset in Ahmedabad
Bilkul Bazaar
Ahmedabad | 31 March 2026
Property Share Investment Trust, India’s first registered Small and Medium Real Estate Investment Trust , has filed the offer documents for its third scheme, PropShare Celestia, aiming to raise up to Rs 244.65 crore through an initial public offering.
The issue will open on April 10, 2026, and close on April 16, 2026. The price band has been set between Rs 10 lakh and Rs 10.5 lakh per unit, with a minimum investment of Rs 10 lakh. Investors can bid for at least one unit and in multiples thereafter.
The proceeds from the IPO will be used to invest in seven floors of Venus Stratum, a Grade A+ commercial property located in Nehru Nagar, Ahmedabad. The asset spans over 2 lakh sq ft and is fully leased to a diversified mix of global and domestic tenants, including Fortune 500 and Fortune Global 500 companies, ensuring stable income visibility.
PropShare Celestia is projected to deliver distribution yields of 8.4% in FY2027, 8.7% in FY2028, and 8.9% in FY2029, based on internal estimates.
The offering will follow a book-building process, with up to 75% of the issue reserved for institutional investors and the remaining 25% for non-institutional investors.
Company officials highlighted that the SM REIT framework enables investors to access institutional-grade office assets through a regulated and liquid structure. They also noted that Ahmedabad’s growing commercial significance and limited representation in existing REIT portfolios make the offering attractive.
The units are proposed to be listed on BSE, subject to regulatory approvals and market conditions.