IPO
Trump Towers' India partner Tribeca Ventures plans Rs.3,000-Cr IPO
Business Standard Tribeca Ventures
New York-based Tribeca Ventures , the exclusive India partner and licensee for the Trump Organization’s residential brand, is planning to go public by 2028. The firm intends to raise between INR 2,000 crore and INR 3,000 crore through a combination of fresh equity and pre-IPO placements. The company has completed a restructuring exercise, consolidating its project entities under Tribeca Ventures Pvt Ltd to serve as the vehicle for the public listing.Founded in 2011 by Kalpesh Mehta, Tribeca Ventures operates as a developer of luxury residential properties.The firm plans to use the anticipated funds to support its business expansion, which includes entering the ultra-luxury office space segment and pursuing land-based plotted developments through joint ventures. Tribeca continues to scale its luxury residential footprint in India, recently launching a new Trump Tower project in Hyderabad. The firm intends to explore further projects in Bengaluru and Chennai.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
