PropShare Celestia IPO Achieves 79% Subscription Rate on Second Day, Led by Non-Institutional Investors

PropShare Celestia Attracts 79 Percent Subscription for IPO

PropShare Celestia, the third small and medium REIT scheme of Property Share Investment Trust (REIT), has seen significant interest from investors, with 79 percent subscription for its initial public offering (IPO) in the last two days until April 13. The major support for the IPO comes from non-institutional investors.

The IPO, which has received bids for 1,836 units out of the offered 2,323 units, has seen non-institutional investors subscribe to 1,543 units, resulting in a 2.66 times their reserved portion. In contrast, institutional investors picked up only 17 percent of their allotted quota.

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The Rs 245-crore IPO will remain open until April 16, with a price band of Rs 10 lakh-10.5 lakh per unit. PropShare Celestia intends to utilize Rs 237.9 crore of the proceeds from the IPO to provide loans to Celestia SPVs and to subscribe to equity shares and optionally convertible debentures issued by the Celestia SPVs for the acquisition of the project Celestia by Celestia SPVs. The remaining funds will be utilized for general purposes and issue expenses.

PropShare Celestia offers seven floors of Stratum at Venus Grounds, a Grade A+ mixed-use commercial building in Nehru Nagar, Ahmedabad. The company is the third small and medium REIT scheme of Property Share Investment Trust, following PropShare Platina and PropShare Titania, which listed on the BSE in December 2024 and August 2025, respectively.

The company will finalize the IPO share allotment by April 17, with its units listed on the BSE on April 24. Ambit is acting as the lead manager for managing the PropShare Celestia IPO.