+
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.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

KONE Opens India's First Digital Experience Centre in Pune

KONE, a global elevator and escalator manufacturer, has inaugurated its first Digital Experience Centre (DEC) in India, located in Pune. The facility aims to showcase how artificial intelligence (AI), connectivity and data-driven technologies can enhance customer experiences and improve building operations.The centre was inaugurated by Jussi Herlin, Executive Vice Chair, KONE Corporation; Philippe Delorme, President and CEO, KONE; and Nandan Nilekani, Co-founder and Chairman of the Board, Infosys.Designed as an interactive customer environment, the facility demonstrates digital solutions cover..

Next Story
Infrastructure Urban

CII GreenCo Launches Circularity Guidelines for Indian Industry

The Confederation of Indian Industry (CII) GreenCo Council has launched the CII GreenCo Circularity Guidelines – Pilot Version at the 17th CII GreenCo Waste & Resource Management Summit 2026 in Chennai. The initiative aims to strengthen resource efficiency, waste reduction and circular economy practices across Indian manufacturing and process industries.The guidelines introduce a structured framework with circularity indices covering raw materials, consumables, packaging and other resource inputs. These indicators will help industries assess existing practices, identify opportunities to ..

Next Story
Infrastructure Energy

Global Electronics Association Launches IPC-1783-CO2E Standard

The Global Electronics Association has introduced IPC-1783-CO2E, a new international standard aimed at improving consistency, transparency and comparability in product carbon footprint reporting across the electronics manufacturing industry.The standard, titled International Standard for Data Collection and Reporting of CO2 Equivalent (CO2e) Emissions for the Electronics Manufacturing Supply Chain, provides industry-specific guidance for collecting, estimating and reporting carbon emissions data.With increasing regulatory requirements and customer expectations, electronics manufacturers face c..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code