Anarock Property Consultants Limited has filed its Draft Red Herring Prospectus (DRHP) with the capital markets regulator Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) to raise ₹1,000 crore.
Anarock plans to use the funds for business expansion, acquisitions, and investment in artificial intelligence (AI) and technology across some of the business. The company has filed draft papers with capital markets regulator Sebi to raise ₹1,000 crore through an Initial Public Offering (IPO).
According to the DRHP filed, proposals in the IPO include a fresh issue of equity shares aggregating up to ₹550 crore, and an Offer For Sale (OFS) of up to ₹450 crore.
Additionally, under the OFS, promoter selling shareholders Peter Properties Ltd and Khushi Trust with investors including various funds managed by 360 ONE, Om Sai Trust and Colared Consultants and Traders LLP will offload shares.
Anarock can consider a pre-IPO placement of up to ₹110 crore. If the placement is completed, the size of the fresh issue will be reduced. The company is also set to deploy proceeds to organic and inorganic growth such as investments in AI augmentation and technology.
Anarock proposes to invest ₹80 crore in AI augmentation and technology for its transaction advisory business, ₹25 crore in technology solutions through ACP, and ₹15 crore in technology solutions through Anacity, its subsidiary. Another ₹89.5 crore will be used to strengthen existing businesses and add new specialised services through talent augmentation.
The company has earmarked ₹148 crore to fund the DSP acquisition, while the other proceeds will be used for acquisitions, strategic initiatives, and general corporate purposes. The offer is being made through the book-building process, where not over 50% of the net offer is allocated to qualified institutional buyers, and not less than 15% and 35% of the net offer is allocated to non-institutional bidders and retail individual bidders.
The book-running lead managers to the issue are ICICI Securities, IIFL Capital Services and 360 ONE WAM. KFin Technologies is the registrar to the offer. The equity shares proposed to be offered through the IPO are proposed to be listed on the BSE and NSE.
Anarock was incorporated in 2011, and provides independent real estate advisory services combining institutional real estate market expertise, proprietary market knowledge and AI powered insights. The company delivers comprehensive real estate solutions to a diversified range of clients, including real estate developers, corporate occupiers, retail brands, government bodies, financial institutions, private equity funds, sovereign funds and other institutional investors.
In 2024, Anarock raised ₹200 crore from 360 One Asset Management Ltd to fund business growth, both organically and inorganically. The group has approximately 2,300 employees across key tier one and two markets in India and the Middle East.
