Property Share Investment Trust Launches Third Scheme: PropShare Celestia

Property Share Investment Trust has filed the draft IPO papers for its new scheme, PropShare Celestia, targeting Rs 244.65 crore. This scheme provides access to Grade A+ real estate in Ahmedabad, with a projected yield of 8.4% for FY27. The units will be listed on the BSE.

Property Share Investment Trust, launching its third scheme under the Small and Medium Real Estate Investment Trust (SM REIT) category, has filed draft IPO papers for PropShare Celestia, targeting an issue size of up to Rs 244.65 crore.

The IPO will only include a fresh issuance of units, as outlined in the documents, with no components available for sale. Located in Ahmedabad, the project features a super built-up area of 2,07,838 sq ft, fully occupied by major tenants including Smartworks Coworking Spaces, EFC Ltd, and Paragraph Khajanchi Business Centre LLP, plus a Swedish telecom multinational.

PropShare Celestia offers investors a Grade A+ asset at a projected yield of 8.4% for FY27, providing an opportunity in a booming market. "SM REITs are transforming real estate ownership and trading," says Hashim Khan, co-founder of Property Share. Ambit is the issue's lead manager, and KFin Technologies is the registrar, with listings planned on the BSE.