+
Casagrand Premier Files for Rs.1,100 Crore IPO
Real Estate

Casagrand Premier Files for Rs.1,100 Crore IPO

Chennai-based real estate developer Casagrand Premier Builder Limited has submitted its draft red herring prospectus (DRHP) to the Securities and Exchange Board of India (SEBI) to raise Rs.11 billion through an initial public offering (IPO). The filing occurred on September 19, according to an official company statement.

Casagrand, a prominent player in Chennai’s residential market, commands a market share of 24% in terms of launches and 20% in terms of demand from January 2017 to March 2024. The IPO will consist of a fresh issue of equity shares valued at Rs.10 billion, alongside an offer for sale amounting to Rs.1 billion by Promoter Selling Shareholders. Additionally, the company may consider a pre-IPO placement of up to Rs.2 billion, which could potentially reduce the size of the fresh issue.

Funds raised from the IPO will be directed towards prepaying borrowings and covering general corporate purposes, with Rs.1.5 billion earmarked for loan repayments and Rs.6.5 billion designated for subsidiaries' borrowings.

Established in 2003, Casagrand has successfully completed 101 projects across Chennai and other South Indian cities. The company has demonstrated steady revenue growth, with FY 2024 reporting revenues of Rs.26.14 billion and profits of Rs.2.57 billion.

Chennai-based real estate developer Casagrand Premier Builder Limited has submitted its draft red herring prospectus (DRHP) to the Securities and Exchange Board of India (SEBI) to raise Rs.11 billion through an initial public offering (IPO). The filing occurred on September 19, according to an official company statement. Casagrand, a prominent player in Chennai’s residential market, commands a market share of 24% in terms of launches and 20% in terms of demand from January 2017 to March 2024. The IPO will consist of a fresh issue of equity shares valued at Rs.10 billion, alongside an offer for sale amounting to Rs.1 billion by Promoter Selling Shareholders. Additionally, the company may consider a pre-IPO placement of up to Rs.2 billion, which could potentially reduce the size of the fresh issue. Funds raised from the IPO will be directed towards prepaying borrowings and covering general corporate purposes, with Rs.1.5 billion earmarked for loan repayments and Rs.6.5 billion designated for subsidiaries' borrowings. Established in 2003, Casagrand has successfully completed 101 projects across Chennai and other South Indian cities. The company has demonstrated steady revenue growth, with FY 2024 reporting revenues of Rs.26.14 billion and profits of Rs.2.57 billion.

Next Story
Infrastructure Energy

L&T to Build India’s Largest Green Hydrogen Plant for IOCL

The plant will be developed on a build-own-operate (BOO) model and will supply 10,000 tonnes of green hydrogen annually to IOCL for a period of 25 years. It will operate entirely on renewable energy, aligning with IOCL’s decarbonisation goals and India’s broader net-zero ambitions.Green hydrogen at the plant will be produced using high-pressure alkaline electrolysers manufactured at L&T Electrolysers Ltd’s facility in Hazira, Gujarat. This initiative further showcases L&T’s commitment to localised, self-reliant clean-tech solutions under the Aatmanirbhar Bharat mission.LTEG’s..

Next Story
Infrastructure Urban

Bansal Wire Q1 Profit Rises 24.6% to Rs 393 Mn

Bansal Wire Industries, India’s largest stainless steel wire manufacturer and second-largest steel wire maker by volume, reported a 24.6 per cent year-on-year rise in net profit to Rs 393 million for the quarter ended June 30, 2025 (Q1 FY26).During the quarter, revenue rose 14.9 per cent YoY to Rs 9,390 million, while EBITDA increased by 19.6 per cent YoY to Rs 745 million, reflecting the company's strong operational performance and focus on value-added segments.According to Pranav Bansal, MD & CEO of Bansal Wire Industries, the company has started FY26 on a strong note, building on the ..

Next Story
Infrastructure Urban

Lemon Tree Opens Keys Lite Hotel in Banswara, Rajasthan

Lemon Tree Hotels has launched its latest property, Keys Lite by Lemon Tree Hotels, Banswara, further expanding its footprint in Rajasthan. This marks the group’s 11th operational hotel in the state and continues its focus on providing quality stays in emerging travel destinations.The newly launched managed hotel features 54 well-appointed rooms, a multi-cuisine restaurant – Keys Café, a fitness centre, and spacious banquet and conference facilities, catering to both leisure and business travellers.Located in southern Rajasthan, Banswara is known as the “City of Hundred Islands” for t..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?