Shapoorji Pallonji Real Estate Aims for IPO Within Two Years
The Mumbai-headquartered conglomerate has formed a new holding company, Shapoorji Pallonji Real Estate (SPRE), to consolidate its real estate holdings across key cities.
Shapoorji Pallonji Real EstateIpoReal EstateMumbaiPuneReal Estate PuneAug 21, 2024
Creating a unified holding company and consolidating assets under this entity is in line with the company’s strategic vision to streamline operations and enhance value creation. To drive operational efficiencies and foster greater growth opportunities, it is positioning SPRE to leverage its scale by bringing our diverse real estate portfolio together.
The portfolio has a total revenue potential of up to Rs 2 trillion after development. The group is considering taking the new company public in two years. In the first phase, the company aims to raise around $800-900 million through an IPO of about a 10-12 per cent stake. Further dilutions could follow, taking the total fundraising to around $2 billion.
The portfolio comprises land parcels spread over 2,000 acres, with the value of the land estimated to be around $6 billion. The holding company covers 45 land parcels and projects, with a total development potential of 140 million square feet. Projects totalling 22 million square feet are currently under development. The assets are primarily in five major cities – Mumbai, Pune, Bengaluru, Gurugram, and Kolkata. It also holds large land parcels in Mysuru and Nagpur.
Information
Shapoorji Pallonji Group is a Mumbai-headquartered conglomerate with a diverse portfolio of businesses, including real estate, construction, and infrastructure. The group has a long history of delivering iconic projects in India and abroad. Shapoorji Pallonji Group is a leading Indian business conglomerate with a rich legacy of over 150 years. The group has a strong presence in various sectors, including real estate, construction, and infrastructure.
Frequently Asked Questions
What is Shapoorji Pallonji Real Estate (SPRE)?
SPRE is a new holding company formed by Shapoorji Pallonji Group to consolidate its real estate holdings across key cities.
What is the total revenue potential of SPRE’s portfolio?
The portfolio has a total revenue potential of up to Rs 2 trillion after development.
How much does SPRE aim to raise through its IPO?
In the first phase, the company aims to raise around $800-900 million through an IPO of about a 10-12 per cent stake.
What is the estimated value of the land held by SPRE?
The value of the land is estimated to be around $6 billion.
In which cities does SPRE have its assets?
The assets are primarily in five major cities – Mumbai, Pune, Bengaluru, Gurugram, and Kolkata. It also holds large land parcels in Mysuru and Nagpur.
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