The Propshare Celestia SM REIT IPO runs from April 10 to April 16, offering units priced between ₹10-10.50 lakh.AI Quick ReadPropShare Celestia, the third small and medium REIT scheme of Property Share Investment Trust (REIT), began on Friday, April 10 and will conclude on Thursday, April 16. Propshare Celestia SM REIT IPO price band of ₹10-10.50 lakh per unit.
The minimum bid size is ₹10 lakh, which also represents the minimum investment required for SM REITs. Bids can start with a minimum of 1 unit and can be placed in increments of 1 unit thereafter.
The property is leased to four main tenants, which include three companies that operate managed office spaces — Smartworks Coworking Spaces, EFC Ltd (both publicly traded), and Paragraph Khajanchi Business Centre LLP. The fourth primary tenant is a publicly traded Swedish telecommunications company.
Institutional investors acquired 17% of the units from their assigned quota.
Tentatively, Propshare Celestia SM REIT IPO basis of allotment of shares will be finalised on Friday, April 17 and the company will initiate refunds on Monday, April 20, while the shares will be credited to the demat account of allottees on the same day following refund. Propshare Celestia SM REIT share price is likely to be listed on BSE and NSE on Friday, April 24.
The public offering will consist solely of a new issuance of units, without any component for sale. The funds raised from the IPO will be utilized to purchase seven floors in Venus Stratum, a Grade A mixed-use commercial property situated in Nehru Nagar, Ahmedabad. The asset in question, Project Celestia, boasts a super built-up area of 2,07,838 square feet and is fully leased.
Ambit serves as the exclusive lead manager for the offering, while KFin Technologies acts as the registrar. The units are expected to be listed on the BSE.
Propshare Celestia SM REIT IPO subscription status is 86% on day 3, so far. The other investors portion has been booked 2.92 times, Institutional Investors portion received 17% bids.
The company has received bids for 1,991 shares against 2,323 shares on offer, at 13:58 IST, according to data on BSE.
Propshare Celestia SM REIT IPO GMP today is ₹0, which means shares are trading with no premium or discount in the grey market, according to investorgain.com.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
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