Units of PropShare Celestia, third small and medium real estate investment trust (SM Reit) scheme to list, ended below their issue price on debut on Friday. The units closed at ₹10.35 lakh apiece, down 1.4 per cent from the issue price of ₹10.50 lakh. Celestia’s ₹244.65-crore offering, which closed on April 16, was subscribed 1.18 times, with the non-institutional investors’ portion seeing a 4.24-times subscription. PropShare Celestia comprises around 207,838 sq ft of Grade A+ office space at Venus Stratum, a commercial development in Nehru Nagar, Ahmedabad.
MTG’s India arm PlaySimple files draft papers for ₹3,150 cr IPO
Swedish gaming firm Modern Times Group MTG AB on Friday said its wholly-owned Indian subsidiary PlaySimple Games Ltd has filed draft papers with the market regulator to launch a ₹3,150 crore Initial Public Offering (IPO). The IPO will be entirely an Offer For Sale (OFS), with MTG acting as the promoter and selling shareholder. As a result, the proceeds from the issue will accrue to MTG and not to PlaySimple, according to the draft papers filed on Thursday. As per the draft papers, the offer size is expected to be up to ₹3,150 crore (about $ 350 million).
Sebi clears proposals for four public issues
The Securities and Exchange Board of India (Sebi) has given its go-ahead to four initial public offerings (IPOs). The companies that received approval are logistics firm Yatayat Corporation, asset manager EAAA India Alternatives, residential developer Grand Housing, and electrical equipment maker MV Electrosystems. These companies, which filed their preliminary IPO papers between December and January, obtained its observation during April 20-23.
