Home Technology Regrob.com Plans To Raise Rs 200-Crore From IPO

Regrob.com Plans To Raise Rs 200-Crore From IPO

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Regrob.com Plans To Raise Rs 200-Crore From IPO

Regrob, a Noida based real estate brokerage group is planning to raise Rs 200 crore from IPO by the end of 2017. It also intends to file for Draft Red Herring Prospectus (DRHP) for the SME IPO.

The CEO and Co-founder of Regrob Technologies, Ashish Kaushik feels after the introduction of RERA Act and GST, the real estate market will get more organized and consolidated. He said, “This is an opportunity for companies like ours to grow. We are looking to raise money to introduce new technologies in the real estate sector and expand in both domestic and the international real estate services business through its franchisee model.”

Investkeen Capital has been appointed as the lead manager for the IPO. As per Vivek Raman, co-founder Regrob, they also intend to venture into home loan business in coming years.

Due to the slow market many real estate companies have avoided the IPO route lately. Nevertheless, the Shankara Building Product IPO that is into home improvement and building is seen as an improved sign of investor confidence.

This will probably be the first time when a real estate brokerage firm is looking to raise capital through IPO.

Also Read: New York Might Get A Spectacular ‘U-Shaped’ Building And It’s Beyond Our Wildest Imagination

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