Anarock Property Consultants Files DRHP with SEBI for ₹1,000 Crore IPO

Leading Indian real estate consultancy firm Anarock Property Consultants Limited has submitted its Draft Red Herring Prospectus (DRHP) to the Securities and Exchange Board of India (SEBI) for an Initial Public Offering (IPO) valued at ₹1,000 crore.

The proposed public issue marks a significant milestone for India's property advisory landscape, offering equity market investors an opportunity to participate in the growth of institutional real estate services and proptech solutions.

Issue Structure and Selling Shareholders

The ₹1,000 crore book-built offering comprises:

• A fresh issue of equity shares aggregating up to ₹550 crore.
• An Offer for Sale (OFS) of up to ₹450 crore by existing promoter entities and institutional investors.

Under the OFS component, shares will be offloaded by promoter selling shareholders Peter Properties Limited and Khushi Trust. Additionally, institutional and external shareholders—including funds managed by 360 ONE Alternates Asset Management (such as 360 ONE Special Opportunities Funds and Large Value Funds), Om Sai Trust, Coralred Consultants and Traders LLP, and executive Anuj A Kejriwal—will trim their stakes.

The company, in consultation with its book-running lead managers, is also evaluating a pre-IPO placement of up to ₹110 crore. If executed, the amount raised via the pre-IPO round will be subtracted from the fresh issue component. The equity shares will be listed on both the BSE and the National Stock Exchange of India (NSE).

Allocation of IPO Proceeds

Anarock plans to deploy the proceeds from the fresh issue towards strengthening its technological capabilities, inorganic acquisitions, and service expansions:

• AI and Digital Infrastructure: ₹80 crore is earmarked for artificial intelligence augmentation and technology within its core transaction advisory business.
• Platform Solutions: ₹25 crore will be directed into tech solutions via Anarock Channel Partner (ACP), alongside ₹15 crore allocated for technology infrastructure in its property management subsidiary, Anacity.
• Acquisition of DSP Design Associates: ₹148 crore will fund the purchase of the remaining equity share capital in architecture and design firm DSP Design Associates (excluding its ESOP pool), building on the 51% controlling stake acquired earlier.
• Talent Augmentation: ₹89.5 crore is allocated to strengthen existing operations and introduce specialised services by hiring industry talent.
• General Corporate Use: The remaining fresh capital will be deployed towards potential unidentified acquisitions, strategic expansion initiatives, and general corporate purposes.

Financial Profile and Operations

Founded by real estate industry veteran Anuj Puri, Anarock operates across four core verticals: Transaction Advisory, Leasing and Investment Advisory, Management Services, and Technology Solutions. The consultancy maintains operations across 15 Indian cities as well as key markets in the Middle East, employing more than 2,100 professionals.

Financially, the company posted consolidated revenue from operations of ₹881.9 crore in FY26, advancing roughly 34% year-on-year from ₹658.9 crore in FY25. Consolidated net profit rose to ₹93.2 crore during FY26, up from ₹60.8 crore reported in the preceding fiscal year.

Significantly for prospective investors, Anarock reported zero outstanding debt on its balance sheet across FY24, FY25, and FY26, having met working capital needs internally and through previous equity infusions, including a ₹200 crore investment by 360 ONE Asset Management in 2024.

ICICI Securities, IIFL Capital Services, and 360 ONE WAM are serving as the book-running lead managers to the issue, while KFin Technologies has been appointed as the registrar.

Tags: Anarock Property Consultants SEBI BSE NSE IPO Real Estate