Casagrand to Raise up to Rs. 1000 cr through IPO

Casagrand is a famed real estate developer based in Chennai. To fuel growth plans, this real estate developer is planning to fundraise a maximum of Rs. 1,000 crores via its initial public offering.

Moreover, the company plans to enhance its footing in Bangalore and enter the Hyderabad market by investing Rs. 1,500 crores. Bangalore and Hyderabad are expected to contribute 35%, whereas Chennai will contribute 65% to the company’s revenue.

Here’s more about Casagrand’s plans.

Casagrand IPO Details

This company has appointed JM Financial and Motilal Oswal as the lead managers for this upcoming initial public offering. As per sources, Casagrand has managed to secure Rs. 1,200 crores from international investors such as KKR India Asset Finance Ltd. and Apollo Global.

It is expected to raise nearly Rs. 400 crores to Rs. 500 crores of structured debt from a total of three projects across Bengaluru and Chennai. Furthermore, the company aims to dilute around 15% of its holding at a valuation of more than Rs. 5,000 crores.

This company further targets to achieve the target of Rs. 3,750 crores in sales, surpassing its last year’s sales of Rs. 2,300 crores. The target seems plausible for this company as it has been successful in achieving its sales goals after resuming operations post nationwide lockdown.

Casagrand Future Plans in Brief

Currently, Casagrand plans to acquire a land parcel amounting to more than Rs. 10,000 crores. So far, the company has already acquired Rs. 6,000 crores turnover in the previous year. Additionally, this real estate developer is also eyeing to establish sales offices in Dubai and the USA.

Besides these, Casagrand has plans to develop affordable and luxury apartments and budget villas within Rs. 85 lakh. Additionally, it plans to create affordable housing ranging from Rs. 25 lakh to Rs. 45 lakh.

This real estate developer primarily focuses on residential space. Accordingly, it intends to add 25 million sq. ft by the year 2024. It will also add 5 million sq. ft office projects and 10-12 million sq. ft of industrial warehousing down the road. Similarly, it is expected to set up 2000 beds and co-living spaces subsequently.

Bottom Line

It appears that Casagrand has several plans pipelined for the next couple of years. A boost in funds and enhanced market position can catapult this company’s value in no time. However, it is too soon to speculate about this upcoming IPO. Hence, individuals willing to take the plunge could consider finding out more about its prospects and market standing before subscribing to its shares.

You can catch up with all the latest developments of this Casagrand IPO and other upcoming IPOs of 2021 from our website.

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Frequently Asked Questions

1. When will Casagrand launch its IPO?

Casagrand has not shared any information regarding its public offering timeline yet.

2. Who is the promoter of Casagrand IPO?

Arun MN is the managing director and the founder of Casagrand.

3. What will be the issue type of Casagrand IPO?

This real estate developer is yet to share information about its public offering issue type.