Mumbai-based real estate player Wadhwa Group is planning to raise ₹2,000–2,500 crore through an IPO, with a DRHP filing expected in the coming month.
The deets: Wadhwa Group is known for its premium residential, commercial, and township projects, with over 10 million sqft already delivered. Its commercial portfolio includes marquee properties like The Capital, Platina, and Trade Centre in BKC, along with offices across Borivali, Mulund, Chembur, and Vashi.
On the residential side, the group has active projects in Juhu, Chembur, Mulund, Kandivali, and a massive 450-acre township in Panvel. The company is currently developing a new commercial property called Venue 52 in Khar.
The IPO proceeds will be used to reduce debt and fund new developments. ICICI Securities, JM Financial, and DAM Capital are advising on the proposed offering.
Big theme: with stock markets holding strong and real estate demand steady, developers are turning to public markets to deleverage and grow. And Mumbai-based developers are clearly leading the way.
Mumbai’s realty IPO wave:
- Lodha Group (Macrotech): ₹2,500 crore in 2021
- Rustomjee (Keystone): ₹635 crore in Nov 2022
- Arkade Developers: ₹410 crore in Sept 2024
- Suraj Estate Developers: ₹400 crore in Dec 2023
- Runwal Enterprises: Filed for ₹1,000 crore IPO
With Wadhwa now joining the queue, it's clear, Mumbai’s real estate scene is heating up, and public markets are footing the bill.
