Property Share Investment Trust, a small and medium real estate investment trust (SM Reit), has filed the offer document for the initial public offering (IPO) of PropShare Celestia, its third scheme, worth ₹244.65 crore.
The issue will open on Friday, April 10, 2026, and close on Thursday, April 16, 2026. The price band for the issue is ₹10 lakh to ₹10.50 lakh per unit. The minimum bid size is ₹10 lakh, which is also the minimum investment amount for investment in SM Reits. Bids can be made for a minimum of one unit and in multiples of one unit thereafter.
The proceeds of the issue will be used for investment across seven identified floors in Venus Stratum, a Grade A+ mixed-use commercial building located in Nehru Nagar, Ahmedabad. Project Celestia comprises a super-built-up area of 2.07 lakh square feet and is 100 per cent occupied by a listed Swedish telecommunications multinational company and a diversified base of 10 occupiers, including three Fortune Global 500 companies.
Property Share stated that the high-quality and diverse tenant mix ensures a stable and reliable income stream.
According to a report by JLL, within Ahmedabad’s secondary business district, Nehru Nagar’s combination of strategic location, connectivity, proximity to key urban infrastructure, and strong social amenities creates an attractive investment proposition for investors.
PropShare Celestia offers a projected distribution yield of 8.4 per cent for financial year 2027 (FY27), 8.7 per cent for FY28, and 8.9 per cent for FY29.
SM Reits are a sub-class within the Reit framework for assets valued between ₹50 crore and ₹500 crore. Similar to Reits, SM Reit units are required to be listed on stock exchanges, but with a minimum lot size of one unit of ₹10 lakh. SM Reits are not permitted to invest in under-construction assets or land and must distribute 95 per cent of earnings as distributions to unitholders.
Earlier, in July 2025, Property Share issued a ₹473 crore IPO of PropShare Titania, its second scheme. In November 2024, the trust issued a ₹353 crore IPO for its first scheme, PropShare Platina.
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