Record Demand: PropShare Celestia IPO Surpasses Expectations
PropShare Celestia's IPO achieved 1.33 times subscription, with significant interest from institutional investors. The fresh issue aims to raise funds for acquiring property in Ahmedabad. The offering, managed by Ambit, is proposed to be listed on BSE, indicating robust demand in the real estate sector.
- Country:
- India
On its closing day, PropShare Celestia's initial public offering (IPO) recorded 1.33 times subscription, revealing strong investor interest. Managed by Property Share Investment Trust, this marks the third in their line of Small and Medium Real Estate Investment Trusts.
The IPO recorded bids for 3,090 units against the 2,323 units on offer, according to BSE insights. While other investor categories saw a 4.81 times subscription, the institutional investor portion reached a 17 percent subscription.
Priced between Rs 10-10.50 lakh per unit, the funds raised, totaling Rs 324 crore, are earmarked for acquiring seven floors at Venus Stratum in Ahmedabad. Set to list on BSE, the IPO underscores the soaring demand in the real estate segment.
(With inputs from agencies.)
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