PropShare Celestia SM REIT Debuts at a Discount on BSE
PropShare Celestia SM REIT lists at discount
Business Standard
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Units of PropShare Celestia SM REIT began trading at ₹9,99,900.01, reflecting a 4.77% discount from its issue price of ₹10,50,000. The REIT, which aims to raise ₹244.65 crore, is fully occupied by four tenants and projects a distribution yield of 8.1% for FY26.
- 01PropShare Celestia SM REIT debuted at ₹9,99,900.01, a 4.77% discount from the issue price.
- 02The REIT's initial public offer was subscribed 1.33 times, with bids for 3,090 units against 2,323 on offer.
- 03The total issue size was ₹244.65 crore, aimed at funding Project Celestia and associated costs.
- 04The REIT is fully occupied by four tenants, including notable co-working operators.
- 05Projected distribution yields are set to increase from 8.1% in FY26 to 8.9% by FY29.
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PropShare Celestia SM REIT listed on the Bombay Stock Exchange (BSE) at ₹9,99,900.01, marking a 4.77% discount from its issue price of ₹10,50,000. As of 10:05 IST, the units were trading at ₹10,39,999, reflecting a 0.95% discount. The initial public offer (IPO) opened for bidding from April 10 to April 16, 2026, and was subscribed 1.33 times with bids for 3,090 units against 2,323 on offer. The total issue size is ₹244.65 crore, intended for the acquisition of Project Celestia and covering statutory charges. Project Celestia spans 2,07,838 sq. ft and is fully occupied by four tenants, including top co-working operators. The REIT projects a distribution yield of 8.1% for FY26, increasing to 8.9% by FY29.
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The listing at a discount may affect investor sentiment and future fundraising efforts for similar REITs, potentially impacting the real estate investment landscape in India.
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