PropShare Celestia IPO Subscribed 1.33 Times

New Delhi, Apr 16 (PTI) PropShare Celestia's initial public offering (IPO) received 1.33 times subscription on the closing day of the issue on Thursday.

PropShare Celestia is the third Small and Medium Real Estate Investment Trust (SM REIT) launched by Property Share Investment Trust.

The IPO received bids for 3,090 units against 2,323 units on offer, as per BSE data.

Other investors category received 4.81 times subscription, while institutional investors portion got subscribed 17 per cent.


The issue has a price band of Rs 10-10.50 lakh per unit.

The public issue has only a fresh issue of units, with no offer for sale component. The IPO proceeds will be used to acquire seven floors in Venus Stratum, a Grade A+ mixed-use commercial building, located in Nehru Nagar, Ahmedabad.

The issue generated a demand of Rs 324 crore.

The IPO of PropShare Celestia began on April 10.

Ambit is the sole lead manager to the issue, while KFin Technologies is the registrar. The units are proposed to be listed on BSE.