Wadhwa Group Holdings Takes Confidential Route To IPO Filing, Submits Draft Papers To SEBI For Proposed Issue

Mumbai: Wadhwa Group Holdings Ltd, the parent company of The Wadhwa Group real estate developers, has submitted preliminary IPO documents through a confidential route to the Securities and Exchange Board of India (SEBI). This move is a precursor to the company's planned transition to the public market. The company announced its pre-filing of a draft red herring prospectus on September 29, which was made available to SEBI and the stock exchanges.

The confidential pre-filing prevents the details of the offer structure, financial performance, valuation, and listing schedule from being publicly available until the regulatory review advances. The Wadhwa Group operates primarily in the Mumbai Metropolitan Region, with a portfolio encompassing residential properties, commercial spaces, and townships.

The company has completed over 250 projects, covering around 45 million square feet in total across completed, ongoing, and future developments. The group's clientele includes more than 35,000 customers and over 150 multinational corporations. Another company, AssetGro Fintech Ltd, which owns the StockGro platform, also used the confidential filing route earlier this month, proposing an IPO between Rs 2,000 crore and Rs 2,500 crore. However, the Wadhwa Group has not yet disclosed the size of its proposed IPO.