New IPO Alert: Casagrand Premier Builder files draft papers with SEBI for ₹1,220 crore public offer

Casagrand Premier Builder IPO: Real estate developer Casagrand Premier Builder has filed preliminary papers with markets regulator Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO).

The proposed ₹1,220 crore initial share sale will be a fresh issuance of equity shares worth ₹1,200 crore and an offer for sale (OFS) of ₹20 crore by promoters Arun MN and Casagrand Luxor Private Ltd, according to the draft red herring prospectus (DRHP).

The fresh issue proceeds will be utilised for repayment of certain borrowings availed by the company and its subsidiaries and for general corporate purposes.

"In addition, our company expects to receive the benefits of listing of the equity shares on the stock exchanges, enhancement of our company’s visibility and brand name amongst our existing and potential customers and creation of a public market for the equity shares in India," the firm said.

Motilal Oswal Investment Advisors and DAM Capital Advisors are the issue's book-running lead managers, while KFin Technologies is the registrar.

About Casagrand Premier Builder

Casagrand Premier Builder is the largest developer in the residential sector and is a well-known residential brand in Chennai (Tamil Nadu), holding a market share of around 25% in terms of launches and approximately 18% in terms of demand between January 1, 2017, and June 30, 2025, according to the CBRE Report.

The company has established its presence in Chennai, offering a variety of projects, including apartments of various sizes and independent villas with lifestyle amenities under affordable, mid-end and luxury categories.

It also operates in cities such as Bengaluru (Karnataka), Hyderabad (Telangana) and Coimbatore (Tamil Nadu). As of June 2025, it has 103 completed projects, 57 ongoing projects and 21 forthcoming projects.

On the financial front, Casagrand Premier Builder posted a revenue from operations of ₹2,695.88 crore in the financial year 2024-25, up 3.13% from ₹2,613.99 crore in FY24.

Profit after tax (PAT) fell 7.55% to ₹235.5 crore in the fiscal year 2025 as against ₹254.84 crore in the previous year.