PropShare Celestia IPO: Dates, Price Band, Yield 2026

What the PropShare Celestia IPO was about

Property Share Investment Trust-PropShare Celestia is a scheme under Property Share Investment Trust, which is registered as a small and medium real estate investment trust (SM REIT) with SEBI. The scheme was set up on December 12, 2025, and the trust itself was settled as an irrevocable trust on June 27, 2024, in Bengaluru under the Indian Trusts Act, 1882. It was registered as an SM REIT on August 5, 2024, under Regulation 26L(1) of the SEBI (Real Estate Investment Trusts) Regulations, 2014.

The IPO drew attention mainly because it offered exposure to commercial real estate through an SM REIT structure, but with a high ticket size per unit. The subscription window ran in April 2026, followed by a BSE listing. Separately, investors also tracked early financial disclosures and a regulatory development relating to the trustee.

IPO timeline: opening, allotment, listing

The IPO opened on April 10, 2026 and closed on April 16, 2026. The basis of allotment was scheduled for April 17, 2026. Refund initiation and credit of shares to demat were both dated April 20, 2026. The IPO listing date was stated as April 24, 2026, and the scheme is also described as having listed on the BSE on April 24, 2026.

These dates matter for investors because the instrument trades like a listed unit post listing, while the allotment and demat credit dates determine when applicants can expect confirmation or refunds. In the provided data, April 24, 2026 is consistently referenced as the listing date, although one line also says the listing date is not yet announced and calls April 24 a tentative date.

Price band, face value, and minimum investment

PropShare Celestia was offered in a price band of ₹10,00,000 to ₹10,50,000 per share. The face value is stated as ₹10,50,000 per share. The lot size was 1, which means the minimum application size was one unit.

The minimum investment is mentioned as ₹10,50,000, consistent with the upper end of the price band and the face value shown in the dataset. The data also states: “A retail-individual investor can apply for up to 0 lots (0 shares or ₹0),” alongside another line saying retail investors can subscribe to minimum 1 lot. Taken together, the listing appears to be structured with a high minimum ticket and limited retail participation in the conventional sense.

Issue size and structure: book-built, fresh issue

The IPO is described as a book-building issue. The issue size is stated as ₹244.65 crore, and it is described as entirely a fresh issue. Several lines repeat the ₹244.65 crore figure.

However, another section states that the scheme “issued 2,330 units aggregating ₹2,446.50 crore.” That aggregate figure aligns arithmetically with 2,330 units at ₹10,50,000 each, but it does not align with the ₹244.65 crore issue size mentioned elsewhere. Because both figures appear in the provided material, readers should treat the issue-size field as inconsistent in the dataset and cross-check against the final offer documents for the definitive number.

Subscription status on closing day

On April 16, 2026 at 5:00 PM, the IPO was subscribed 1.33 times, according to the provided data. Category-wise subscription was stated as 0 times in the retail category, 0.17 times in the QIB category, and 4.81 times in the NII category.

This split suggests that demand, where present, was concentrated in the non-institutional bucket, while QIB participation was low in the snapshot and retail participation was shown as nil. Since the lot size and minimum investment are high, the category outcomes are a key part of how the issue finally got subscribed.

What the scheme invests in

The scheme offers investors access to seven floors within Stratum @ Venus Grounds, described as a Grade A+ mixed-use commercial development with an atrium, located in the Nehru Nagar area of Ahmedabad. Another line describes the offering as office space across seven floors of a Grade A+ commercial building in Ahmedabad with 100% occupancy.

The stated use of IPO proceeds included acquisition of Project Celestia, payment of sinking fund to the society by Celestia SPVs, and reimbursement or direct payment of statutory charges such as stamp duty and registration costs. Remaining funds were to be used for general corporate purposes.

Projected distribution yields (FY2026 to FY2029)

The provided material states projected distribution yields of 8.1% for FY2026, 8.4% for FY2027, 8.7% for FY2028, and 8.9% for FY2029. It also notes these projections are based on assumptions and estimates considered appropriate by the Investment Manager at the time, approved by the Investment Manager’s board on January 8, 2026, and certified by auditors.

For investors, these numbers are relevant because yield expectations are central to listed real estate structures. At the same time, the dataset itself frames them as projections, not outcomes, and ties them to assumptions.

Initial financial results and early loss disclosure

For the period from December 12, 2025 to March 31, 2026, PropShare Celestia reported a standalone loss of ₹0.16 crore. The consolidated loss for the same period was ₹1.48 crore. The dataset flags this as an inaugural result set, given the scheme was set up in December 2025 and listed in April 2026.

The material also includes a “Reader Takeaway” that points to a regulatory notice to the trustee as a key watch item. Financial data tables for quarterly results are shown as “No data available” in the snapshot.

Regulatory update: SEBI show-cause notice to trustee

A significant disclosure referenced in the provided content is a SEBI show-cause notice issued to Axis Trustee Services Limited, the trustee of the Property Share Investment Trust. The SEBI SCN date to trustee is shown as May 30, 2025.

The dataset does not include the specific allegations, outcomes, or current status of the notice. Still, it is highlighted as a material point for investors to monitor because trustee oversight is a core element in REIT governance structures.

Market data snapshots: price, range, returns, and ratios

The provided market snapshot says that as of 7 Jul 2026, the PropShare Celestia share price was ₹10,09,301, with the same value shown as the day’s open and the day’s range. A separate line also says the share price “today stands at ₹10,20,000 as on at the close of the market,” and another snapshot shows a previous close of ₹10,11,000 and a day’s high of ₹10,14,000.

Over the last 52 weeks, the price is shown as having a low of ₹9,99,900.01 and a high of ₹10,39,999.00. Historical returns are listed as -0.49% for 1 month and -1.45% for 3 months, 1 year, 3 years, and 5 years. In another line, performance is shown as declined by 0% over the last year, indicating inconsistent return snapshots in the dataset.

A metrics snapshot (dated June 5, 2026 in the provided content) lists Market Cap at ₹26,513.86 crore, ROE 5.41, ROCE 5.92, PE (TTM) 42.54, Beta 0.15, and Dividend Yield 6.02. Another line separately states market capitalisation as ₹237.66 crore, without a clear date. These figures appear as different data pulls and should be interpreted accordingly.

Key facts at a glance

Company and registrar contacts

The company address is listed as 16th Floor, SKAV Seethalakshmi, 21/22 Kasturba Road, Bangalore-560001, with phone +91 80 3100 3902 and email compliance.officer@propertyshare.in. The website is shown as www.psreit.in.

The registrar is KFin Technologies Limited, with phone numbers +91 40 6716 2222 (and also 04067162222, 04079611000 in another line) and email propshare.ipo@kfintech.com (also shown as propshare3.ipo@kfintech.com in another line). The registrar website is listed as www.kfintech.com.

Why this matters for investors

PropShare Celestia is part of the emerging SM REIT market in India, where unit sizes and investor access can differ from traditional listed REITs. The high unit price and lot size of 1 make this offering structurally different from mainstream equity IPOs aimed at broad retail participation.

From the provided information, three practical monitorables stand out: (1) how the listed price behaves relative to the ₹10,00,000 to ₹10,50,000 band, (2) how actual distributions compare against the projected yield path from FY2026 to FY2029, and (3) the evolution of the SEBI show-cause notice disclosure relating to the trustee.

Conclusion

PropShare Celestia’s April 2026 IPO and BSE listing put a new SM REIT scheme into the public market, with a high-ticket price band, 1.33x subscription at close, and projected distribution yields extending to FY2029. Early results showed a standalone loss of ₹0.16 crore and a consolidated loss of ₹1.48 crore for the initial reporting period through March 31, 2026. The next set of investor focus points, based on the provided disclosures, are subsequent financial updates, distribution disclosures, and any further clarity on the trustee-related SEBI show-cause notice dated May 30, 2025.