Square Yards to launch its multi billionaire IPO of Rs 1,500 cr
The issue would be a mix of fresh issuance and offer for sale (OFS) for existing shareholders Proptech startup Square Yards plans to launch its initial public offer (IPO) to raise about Rs 1,500 crore for future growth of the business and will soon file a draft document with market regulator Sebi to get clearance for the issue, according to sources. The company, which is one of the leading real estate consultants, has finalized investment bankers for its proposed public issue, they added. The Square Yards spokesperson did not offer any immediate comment. Market sources said that Square Yards is planning to launch its IPO with an issue size of about Rs 1,500 crore. The issue would be a mix of fresh issuance and offer for sale (OFS) for existing shareholders. Square Yards has finalised investment bankers for its IPO and plans to file a draft red herring prospectus (DRHP) soon, they added. The Gurugram-based company has so far raised USD 125 million, of which USD 60 million as equity and