Property Share Announces ₹244.65 Crore IPO for India’s Third SM REIT Scheme, PropShare Celestia

Mumbai, March 30, 2026:

Property Share Investment Trust, India’s first registered Small and Medium Real Estate Investment Trust (SM REIT), has officially filed the Offer Document for its third scheme, PropShare Celestia. The upcoming Initial Public Offering (IPO), aggregating up to ₹244.65 crore, is scheduled to open for bidding on April 10, 2026, and will close on April 16, 2026. This launch marks a significant expansion for the trust as it continues to institutionalize fractional real estate investment in the Indian market, the company said in a press statement.

The fresh issue is priced within a band of ₹10.00 lakhs to ₹10.50 lakhs per unit, aligning with the minimum investment threshold mandated for SM REITs. Investors can bid for a minimum of one unit and in multiples of one thereafter. The proceeds from the IPO are earmarked for investment across seven identified floors in Venus Stratum, a Grade A+ mixed-use commercial landmark located in the prime Nehru Nagar area of Ahmedabad. According to a report by JLL, the strategic location and connectivity of Nehru Nagar make it one of the most attractive investment propositions within Ahmedabad’s Secondary Business District.

Project Celestia encompasses a super built-up area of 2,07,838 square feet and boasts 100% occupancy. The asset features a high-quality, diversified tenant mix anchored by a listed Swedish telecommunications multinational. The occupier base includes three Fortune Global 500 companies—spanning the technology, consulting, and chemical sectors—alongside a Fortune 500 firm and a prominent U.S.-based FMCG multinational. Other notable tenants include an Indian private sector bank, a top-tier professional services firm, and various data analytics and e-commerce platforms, ensuring a stable and reliable income stream for the scheme.

Financial projections for PropShare Celestia indicate an attractive yield profile for incoming investors. The scheme offers a projected distribution yield of 8.4% for FY 2027, rising to 8.7% for FY 2028 and reaching 8.9% for FY 2029. These estimates, deemed reasonable by the Investment Manager as of January 8, 2026, have been adopted by the board and certified by auditors. The management team behind the fund consists of 24 professionals with backgrounds from premier institutions like the IITs and IIMs, bringing extensive experience from international and domestic real estate funds.

The issue is being managed by Ambit Private Limited as the Sole Lead Manager, with KFin Technologies serving as the Registrar. Axis Trustee Services and PropShare Investment Manager Private Limited take on the roles of Trustee and Investment Manager, respectively, while Cyril Amarchand Mangaldas acts as the legal advisor. The units are proposed to be listed on the BSE Limited (BSE). While the offering represents a major milestone for domestic real estate investment, the units have not been registered under the U.S. Securities Act and are being offered only in “offshore transactions” in compliance with Regulation S.

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