Chennai-based real estate player Casagrand has announced plans to go public. JM Financial and Motilal Oswal have been jointly elected bankers for the IPO. Recently, Casagrand has secured Rs 1,200 crore project specific funding from major investors such as Apollo Global and KKR.
Speaking about the company's aggressive plans, Arun Mn, founder and MD, said the motive behind the IPO is to build confidence in the market, as the IPO requires adherence to strict regulatory standards. In addition, it will facilitate rapid access to capital for development. That it plans to cut its 15% stake for use as stock options for its staff will be a facilitator to bring in talent, he added.
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