Proptech startup Square Yards plans to go public
- ByStartupStory | January 3, 2022
Square Yards, a Proptech platform, has begun an initial public offering (IPO). This will bring the company to over Rs 100 billion and join several other technology companies planning to go public.
Square Yards is an integrated real estate and mortgage platform expanding its business through international operations in the United Arab Emirates and other West Asia, Australia and Canada.
The platform covers the entire real estate journey, from search and discovery, transactions, mortgages, interior design, leasing, asset management and post-sales services. This will fully integrate buyers into an extensive network of over 500 partner real estate developers, 150,000 brokers and 100 lenders. Square Yards also builds B2B software as a service platform for developers, banks and agents.
“The company has nominated Axis Capital as the lead banker for the IPO. Other banks will be discontinued later. The exact number of shares sold is not yet expected to take place immediately. It hasn’t been decided, but it could be at least Rs 100 billion, which would result in a mix of primary and secondary stock sales. ” It is mainly used for organic and inorganic growth opportunities, “he added.
Square Yards recently acquired the capabilities of rental and real estate management, data intelligence, virtual reality platform and launched a full-service furniture and interior design platform.
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