PropShare Celestia Units Debut Lower on BSE

New Delhi, Apr 24 (PTI) The units of PropShare Celestia ended over 1 per cent lower on their trading debut on Friday.

Earlier in the day, the units started trading at Rs 9,99,900.01, a decline of 4.77 per cent from the issue price of Rs 10,50,000 per unit on the BSE. It later ended at Rs 10,35,000, down 1.42 per cent.

The company's market valuation stood at Rs 241.16 crore.


PropShare Celestia's initial public offering (IPO) received 1.33 times subscription on the closing day of the issue on Thursday last week.

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

The Rs 244-crore issue had a price band of Rs 10-10.50 lakh per unit.

The public issue had 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.