Anarock Property Consultants, the real estate consultancy firm, has filed draft papers with capital markets regulator Sebi to raise Rs 1,000 crore through an Initial Public Offering (IPO).
Anarock Property Consultants 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, according to the Draft Red Herring Prospectus (DRHP) filed on Wednesday.
Under the OFS, promoter selling shareholders Peter Properties Ltd and Khushi Trust, along with investors including various funds managed by 360 ONE, Om Sai Trust and Colared Consultants and Traders LLP, will offload shares.
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The company may also consider a pre-IPO placement of up to Rs 110 crore. The fresh issue size will be reduced if such a placement is completed.
ICICI Securities, IIFL Capital Services and 360 ONE WAM are the book-running lead managers, while KFin Technologies is the Anarock Property Consultants IPO registrar.
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Anarock Property Consultants shares are proposed to be listed on both the stock exchanges, BSE and NSE.
The company plans to deploy the fresh issue proceeds towards organic and inorganic growth, including investments in artificial intelligence (AI) augmentation and technology.
Anarock proposes to invest Rs 80 crore in AI augmentation and technology for its transaction advisory business, Rs 25 crore for technology solutions through ACP and Rs 15 crore for technology solutions through Anacity, its subsidiary.
Another Rs 89.5 crore will be used for strengthening existing businesses and adding new specialised services through talent augmentation, as per the DRHP.
The company has earmarked Rs 148 crore for funding the DSP Acquisition, while the remaining proceeds will be used for unidentified acquisitions, strategic initiatives and general corporate purposes.
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