Casagrand Premier Builder is into Real Estate Construction and is looking raise funds through Fresh Issue and Offer For Sale
Casagrand Premier Builder IPO: Casagrand Premier Builder Limited has filed Draft Red Herring Prospectus (DRHP) for proposed initial public offer (IPO) and raise funds through an offer of equity share capital having face value of Rs. 2 per share via initial public offering.
Promoters of Casagrand Premier Builder are Arun MN and Casagrand Luxor Pvt. Ltd. and holds 100% stake in the company.
Key Details:
- Initial Public Offer comprising of a Fresh Issue aggregating up to Rs. 1,000 crores and an Offer for Sale aggregating up to Rs 100 crores..
- JM Financial, Motilal Oswal Investment Advisors have been appointed as lead merchant bankers for the proposed IPO.
- It has appointed KFin Technologies Ltd. as Registrar and Share transfer Agent.
- Company is yet to finalize issue size and some other important details relating to the IPO.
Details about upcoming IPO:
As per the details available in DRHP, fundraising will consist of an Fresh Issue aggregating Rs. 1,000 Crs andby Promoters selling shareholder includes Arun MN who will offload eqity shares aggregating upto Rs50 crores and Casagrand Luxor Private Limited who will offload equity shares aggregating upto Rs50 crores...
Objects of the issue:
1) Repayment of debt of the company - Rs150 crores, 2) Repayment of debt of the subsidiaries - Rs650 crores, and 3) General corporate purposes.
About Company:
Established in 2003, Chennai based real estate developer is into construction of residential apartments and independent villas under luxury, mid-end and affordable categories. Company is having projects in Bengaluru (Karnataka), Hyderabad (Telangana) and Coimbatore (Tamil Nadu).As of May 31, 2024, it had 101 Completed Projects (having saleable Area of ~21.45 million square feet). Currently, 42 Ongoing Projects having saleable area of 33.60 million square feet are under development. Company envisaged to develop 17 forthcoming Projects with an estimated saleable area of 13.15 million square feet.
- Company is planning to complete currently ongoing 42 projects as per following schedule (epected date of completion as per RERA):
- FY25e: 3,660 units with area of 4.84mn sq.ft.
- FY26e: 2,417 units with area of 3.31mn sq.ft.
- FY27e: 5,128 units with area of 7.89mn sq.ft.
- FY28e: 5,765 units with area of 8.36mn sq.ft.
- FY29e: 2,671 units with area of 4.27mn sq.ft.
- FY30e: 2,747 units with area of 4.93mn sq.ft.
- Share of revenue category wise:
- Luxury 6.64% in FY24 (v/s 12.75%/3.54% in FY23/FY22)
- Mid-end: 92.19% in FY24 (v/s 77.7%/71.5% in FY23/FY22)
- Affordable: 0.3% in FY24 (v/s 7.6%/23.9% in FY23/FY22)
- Plots: 0.2% in FY24 (v/s 1.4%/1.1% in FY23/FY22)
About Industry:
Residential sector growth in India is fuelled by rapid urbanization rate in the last two decades coupled with improved per capita earnings, growth in service industries and nuclearization of families. Over the past few years, overall absorption in the residential segment in terms of number of dwelling units has witnessed an upward trend across the top Indian cities including Bengaluru (Karnataka), Chennai (Tamil Nadu) and Hyderabad (Telangana).
Source: SEBI, BSE, NSE, DRHP, Casagrand Premier Builder, Industry Data
Disclaimer: Above article only publishes details about the IPO for educational purpose and doesn't solicit or invite any interest to invest. Please visit respective sources to verify and know more details about the IPO. We advise investors to take opinion from certified/SEBI registered experts before taking any investment decisions.
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