Wadhwa Group Holdings Files IPO Papers With Sebi Through Confidential Route

New Delhi: Wadhwa Group Holdings Ltd, the holding company of real estate developer The Wadhwa Group, has filed preliminary papers with markets regulator Sebi for an Initial Public Offering (IPO) using the confidential route.

Under the confidential pre-filing route, companies are allowed to keep their draft offer documents out of the public domain until the regulatory review process reaches a more advanced stage.

As a result, details regarding the offer structure, financial performance, valuation and listing timeline are not available at this stage.

In a public notice dated September 29, the company said it has filed “the pre-filed draft red herring prospectus with Sebi and the stock exchanges… in relation to the proposed initial public offering of its equity shares on the main-board of the stock exchanges”.

The proposed IPO marks a step towards the group’s planned entry into the public markets.

The Wadhwa Group has a presence in the Mumbai Metropolitan Region and has developed more than 250 projects across residential, commercial and township segments.

Its completed, ongoing and future developments span around 45 million square feet, while the group has a customer base of over 35,000 and more than 150 multinational corporations among its clientele.

One of its flagship developments is Wadhwa Wise City in Panvel.

Earlier this month, AssetGro Fintech Ltd, the parent company of stock market research and advisory platform StockGro, also filed preliminary papers with Sebi to raise Rs 2,000-2,500 crore through an IPO using the confidential route.

(Disclaimer: Except for the headline, this article has not been edited by HDFC Sky editorial team and is auto-generated from PTI feed.)