Curation Team
NEW DELHI: Chennai-based Grand Housing has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for its proposed initial public offering (IPO).
The offer, with a face value of ₹5 per equity share, is an offer for sale of up to 35,500,000 shares by promoter Vijay Surana J.
Incorporated in 2004, the company primarily focuses on plotted developments in Tamil Nadu. The company has also worked to acquire contiguous parcels of land in some cases to create a larger area more economically viable for further development.
Its plotted developments are divided into two segments – residential segment – comprising development of residential plots and industrial segment – comprising development of large contiguous land to be used for industries.
The company develops and sells residential land plots mainly to homeowners for their construction of houses and villas. The sizes of its residential plots typically range from 600 sq ft to 2,400 sq ft, with price of individual plot ranging from ₹1,500 per sq ft to ₹5,000 per sq ft.
As of March 31, 2025, the company’s land reserves comprised of approximately 83,134,781 sq ft (or 1,908.52 acres) of land which excludes ongoing projects, completed projects and upcoming projects.
The company’s revenue from operations was ₹156.66 crore during FY25 vis-à-vis ₹94.61 crore during FY23. Its net profit was ₹84.59 crore during FY25 vis-a-vis ₹30.92 crore during FY23.
The offer is being made through the book-building process, wherein not more than 50% of the net offer is allocated to qualified institutional buyers, and not more than 15% and 35% of the net offer is assigned to non-institutional bidders and retail individual bidders respectively.
Smart Horizon Capital Advisors is the book running lead managers and Bigshare Services is the registrar of the offer.
