Assetz files IPO papers with SEBI via confidential route, plans ₹1,200-cr issue

Real estate company Assetz Ltd has submitted preliminary documents to the regulatory body SEBI through a confidential route, seeking an initial public offering (IPO) valued at approximately ₹1,200 crore. This would be Bengaluru's fastest-growing residential developer's first public market listing. Singapore-based investment fund AGP Partners holds a significant stake in the company.

The preliminary draft prospectus was filed with SEBI and the stock exchanges in a public notice on Saturday. The proposed issue is managed by JM Financial, BofA Securities India, and Motilal Oswal Investment Advisors. Under the confidential pre-filing route, the company's draft offer documents remain private until the review process advances.

Assetz has established an institutional-style governance structure, with projects managed through special purpose vehicles (SPVs). The company has raised and repaid over ₹1,000 crore in capital from investors and financial institutions over the years. Assetz is led by its shareholder-cum-management team, including Managing Director Akshay Kishore Dewani and Executive Director Sunil Kumar Pareek, supported by a board of independent directors.

The company has recently expanded its land acquisitions in Bengaluru, adding around 200 acres to its portfolio in the city's high-demand eastern and northern regions. Assetz aims to develop about 4.5 crore square feet of property through joint development arrangements, with plans to expand into the Mumbai Metropolitan Region as well.