INOX Air Products files DRHP for IPO; existing shareholders to sell up to 7.72 cr shares

Real estate consultancy Anarock Property Consultants Ltd has submitted draft paperwork to SEBI, seeking ₹1,000 crore through an Initial Public Offering (IPO) to finance technology enhancements, business growth, and acquisitions. The IPO includes a new equity share issuance of up to ₹550 crore and an Offer-for-Sale (OFS) of up to ₹450 crore, as outlined in the Draft Red Herring Prospectus (DRHP).

Promoter selling shareholders Peter Properties Ltd and Khushi Trust, along with several investors, will sell shares during the OFS. The company may also explore a pre-IPO placement worth up to ₹110 crore, which would reduce the fresh issue size if completed. Anarock intends to use the funds raised for organic and inorganic expansion, with ₹80 crore allocated to AI integration and technology, ₹25 crore for technology solutions via ACP, and ₹15 crore for Anacity's technology offerings.

Additionally, ₹89.5 crore will bolster existing businesses and introduce new specialized services through workforce expansion; another ₹148 crore will finance the DSP Acquisition, while the remainder will support unidentified acquisitions, strategic initiatives, and general corporate activities. Anarock employs approximately 2,300 staff across significant tier-1 and tier-2 markets in India and West Asia. The shares to be offered in the IPO are intended to be listed on both the BSE and NSE.