Chennai real estate developer Casagrand files DRHP for raising ₹1,220 crore
The public issue includes ₹1,200 crore of fresh issue and ₹20 crore Offer for Sale
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KSL
Chennai-based real estate company Casagrand Premier Builder Limited has filed a Draft Red Herring Prospectus (DRHP) with SEBI to raise ₹1,220 crore with a focus on reducing debt.
The public issue includes ₹1,200 crore of fresh issue and ₹20 crore Offer for Sale by selling shareholders Arun MN and Casagrand Luxor Private Ltd.
The purpose of the IPO is to prepay or repay (in full or in part) certain outstanding borrowings availed by the company.
The real estate major had earlier filed its DRHP in September 2024, which it then withdrew in January 2025, and has marginally upped the offer now.
As of June 30, 2025, the company’s total outstanding borrowings were ₹4,472 crore, and it proposes to utilise up to ₹900 crore of the net proceeds from the fresh Issue for repayment/ prepayment of certain debt, including those of its subsidiaries. The company is also looking to rationalise capital allocation.
As of June 30, 2025, the company had 103 completed Projects with a saleable area of 21.79 million sq ft; 57 ongoing projects with a saleable area of 44.10 million sq ft and 21 forthcoming projects with an estimated saleable area of 23.81million sq ft, the document said.
The company’s revenue from operations for the quarter ended June 2025 stood at ₹172 crore, and it recorded a net loss of ₹32 crore in the period. For the year ended March 2025, revenue was ₹2,696 crore and profit was ₹235 crore.
Published on December 31, 2025
