InvestorQ : When is the Casagrand IPO likely to hit the Indian primary markets?
Arti Chavan made post

When is the Casagrand IPO likely to hit the Indian primary markets?

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Rutuja Nigam answered.
2 months ago
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With the realty sector doing really well in terms of sales, customer interest and investor interest, the IPOs cannot be too far behind. In fact, the NSE Realty Index has rallied over 125% in the last one year and it gained 22% in just the last 3 days. The trigger came after Godrej Properties recorded top-bracket sales of Rs.575 crore of apartments at its NCR project in a single day on the day of its launch.

This has enthused the real estate developer, Casagrand, to firm up plans for its Rs.800 crore IPO likely to hit the market in early 2022. The proposed IPO will lead to 15% dilution. Marquee PE investors like Apollo Global and KKR are already invested in Casagrand. The IPO is estimated to value Casagrand at Rs.5,000-6,000 crore. Casagrand is already among the five leading developers in South India. It will acquire land parcels worth Rs.10,000 crore this year. Sales are targeted at Rs.3,750 crore for fiscal year 2021-22.

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