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Proptech co Square Yards to file papers for Rs.1,500-Cr IPO

Economic Times  

Proptech startup Square Yards plans to launch an IPO to raise about INR 1,500. The real estate consulting company has finalised investment bankers for its proposed public issue, which would be a mix of fresh issuance and offer for sale (OFS) for existing shareholders. The Gurugram-based company has so far raised USD 125 million, USD 60 million as equity and USD 65 million as debt. Some of its major investors include Kae Capital, ADM, Bennett Coleman and Co. Ltd, Reliance Capital along with Koh Boon Hwee (Ex-Chairman, SingTel & DBS) and George Hongchoy (CEO, Link REIT). Square Yards is mainly into property brokerage, home loan brokerage and rental businesses. It offers a full-stack digital real-estate journey from search and discovery, transactions, home loans, home interiors, rentals, property management, and post-sales services. The company reported a revenue of INR 250 crore in FY 2020-21.