NEW DELHI: Grand Housing, based in Chennai, has submitted its draft red herring prospectus (DRHP) to the Securities and Exchange Board of India (SEBI) for its upcoming initial public offering (IPO).
The offer, priced at ₹5 per equity share, includes a sale of up to 35,500,000 shares by promoter Vijay Surana J.
Established in 2004, Grand Housing primarily concentrates on plotted developments in Tamil Nadu. The company is focused on acquiring adjacent land parcels to create larger, more economically viable areas for future development.
Its real estate offerings include two main segments: the residential segment, which focuses on the development of housing plots, and the industrial segment, which targets the development of large contiguous land parcels for industrial use.
The company develops and sells residential land plots primarily to homeowners for building houses and villas. The plot sizes typically range from 600 sq ft to 2,400 sq ft, with individual plot prices ranging between ₹1,500 to ₹5,000 per sq ft.
As of March 31, 2025, the company’s land reserves included approximately 83,134,781 sq ft (or 1,908.52 acres) of land, excluding ongoing, completed, and upcoming projects.
For FY25, the company reported revenue of ₹156.66 crore, a significant increase from ₹94.61 crore in FY23. Its net profit also rose to ₹84.59 crore in FY25, compared to ₹30.92 crore in FY23.
The offering will be conducted via a book-building process, allocating no more than 50% of the net offer to qualified institutional buyers and dividing the rest between non-institutional bidders (15%) and retail individual bidders (35%).
Smart Horizon Capital Advisors serves as the book-running lead manager, while Bigshare Services will oversee the offer’s registration.
