Property Share Investment Trust Files Rs 244-Crore IPO for Third SM REIT Scheme
Property Share Investment Trust has filed draft IPO papers for PropShare Celestia, its third SM REIT scheme, seeking to raise up to Rs 244.65 crore through fresh units only. The underlying Project Celestia asset spans 2,07,838 sq ft in Ahmedabad and is fully occupied by four primary tenants including managed-office operators and a Swedish telecommunications multinational. The Grade A+ property offers a projected yield of 8.40% for FY27, with Ambit as sole lead manager and BSE listing planned.