Upcoming IPO: Mumbai Based Neelkanth Realtors Filed DRHP With SEBI

One of the prominent real estate developers in Mumbai’s Eastern Suburbs and Thane City in the Mumbai Metropolitan Region (MMR), Neelkanth Realtors Limited has filed the draft red herring prospectus (DRHP) with the market regulator, Securities and Exchange Board of India (SEBI) to raise funds via IPO. This upcoming IPO is entirely a fresh issue of 1,35,00,000 Equity Shares of face value ₹ 10 each.

Use of IPO Proceeds

Neelkanth Realtors IPO funds are proposed to be used towards funding the following objects:

• Funding the costs to be incurred in the development of its Ongoing Projects, and its Upcoming Projects.
• Repayment and/or pre-payment, in full or part, of certain outstanding borrowings availed by its Company.
• General corporate purposes

About Neelkanth Realtors Limited

Incorporated in 1994, Neelkanth Realtors Limited is a Mumbai-based real estate development company. The company specialise in creating distinctive residential and commercial real estate developments in the micro-markets of MMR. Additionally, it owns a diversified suite of projects across a wide range of price points, and presence in the micro markets. The company provide differentiated offerings and corresponding amenities based on the needs of the location and community to maximise its revenue.

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