Square Yards Plans Rs 1,500 Crore IPO

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 The company, has finalised investment bankers for its proposed public issue and 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. The Gurugram-based company has so far raised USD 125 million, of which USD 60 million as equity and USD 65 million as debt capital. Some of its major investors include Kae Capital, ADM, Bennett Coleman and Co. Ltd, Reliance Capital along with Koh Boon Hwee (Ex-Chairman, SingTel & DBS) and George Hongchoy (CEO, Link REIT).