What are the recent IPOs in the Indian real estate market?

India’s real estate sector has witnessed a flurry of IPOs (Initial Public Offerings) in recent years, reflecting growing investor confidence and continuous capital needs for expansion. These listings allow developers to raise funds, reduce debt, and fuel new projects in both residential and commercial domains.

Notable Recent IPOs:

• Suraj Estate Developers Limited (December 2023)
  • Issue Size: Rs. 400 Crore
  • Issue Price: Rs. 360; Listed at ~Rs. 448.1
  • Focus on residential and commercial projects in Maharashtra.
• Signature Global (India) Limited (September 2023)
  • Issue Size: Rs. 730 Crore
  • Issue Price: Rs. 385; Listed at ~Rs. 1,410.6
  • Known for affordable housing in Delhi-NCR, catering to mid-income buyers.
• Keystone Realtors Limited (November 2022)
  • Issue Size: Rs. 635 Crore
  • Issue Price: Rs. 541; Listed at ~Rs. 669.6
  • Markets projects under the Rustomjee brand, focusing on premium residences in Mumbai.
• Shriram Properties Limited (December 2021)
  • Issue Size: Rs. 600 Crore
  • Issue Price: Rs. 118; Listed at ~Rs. 112.95
  • Pan-India presence, focusing on mid-segment residential.
• Macrotech Developers Limited (Lodha Group) (April 2021)
  • Issue Size: Rs. 2,500 Crore
  • Issue Price: Rs. 486; Listed at ~Rs. 1,479.05
  • Major player in luxury and mid-range projects, primarily in Mumbai.

These IPOs highlight diverse business models and geographical focuses. Investors typically scrutinize project pipelines, land banks, brand reputation, and financial health before subscribing to these offerings. Overall, the momentum in real estate IPOs signals improving transparency, sustained demand, and optimism about India’s long-term growth trajectory in real estate.