Anarock Property Consultants files for Rs 1,000 crore IPO
Mumbai-based Anarock Property Consultants Limited has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an Initial Public Offering of Rs 1,000 crore. The IPO comprises a fresh issue of equity shares aggregating up to Rs 550 crore and an Offer For Sale (OFS) of up to Rs 450 crore by promoters Peter Properties Limited and Khushi Trust.
The company may consider a Pre-IPO Placement for Rs 110 crore prior to filing the Red Herring Prospectus with the RoC, with any amount raised reducing the fresh issue proportionally. Proceeds from the fresh issuance will be allocated across multiple strategic initiatives: Rs 80 crore for AI augmentation and technology investments across business lines including transaction advisory, Rs 25 crore for technology solutions through ACP, and Rs 15 crore for additional technology solutions. A further Rs 89.5 crore will strengthen existing businesses and add specialized services through talent augmentation, while Rs 148 crore will fund the DSP acquisition, pursue inorganic growth through unidentified acquisitions, and support strategic initiatives and general corporate purposes.
The offer will be made through the book-building process, with allocation of not more than 50% to qualified institutional buyers, and not less than 15% and 35% to non-institutional bidders and retail individual bidders respectively. Incorporated in 2011, Anarock is an independent real estate advisory firm delivering comprehensive real estate solutions to developers, corporate occupiers, retail brands, government bodies, and financial institutions.
