Square Yards IPO Plans

Square Yards is a proptech platform set to raise Rs 2,000 crore through an initial public offering (IPO), targeting a valuation of $1.5–2 billion, as per sources familiar with the situation.

Details of the IPO

This Gurugram-based company is currently finalising investment bankers and anticipates submitting its Draft Red Herring Prospectus (DRHP) within this financial year. The proposed Rs 2,000 crore IPO will feature equal division between primary and secondary offerings. A notable share of the funds is expected to provide an exit for early investors and to alleviate the company’s debt.

About Square Yards

Established in 2013, Square Yards is a comprehensive proptech platform that offers a wide range of real estate services. These services include property discovery, buying and selling, mortgage assistance, home furnishing, rentals, and property management. The platform operates in over 100 cities across nine nations, boasting a network of 150,000 agent partners.

Funding and Stakeholders

To date, Square Yards has raised a total of $96.5 million in funding, with Reliance Group being the primary investor, holding an 11% stake in the company. Furthermore, it has been reported that the founders of Square Yards are expected to retain more than 50% of the stake post-IPO.

Future Financial Goals

Square Yards has set an ambitious target of achieving Rs 2,000 crore in revenue and Rs 200 crore in EBITDA (Earnings Before Interest, Tax, Depreciation, and Amortisation) by the conclusion of the current fiscal year (FY26). In the preceding fiscal year, the company experienced a 40.9% year-on-year increase in operating revenue, reaching Rs 1,410 crore. Meanwhile, gross profits surged by 51.9%, amounting to Rs 316 crore in FY25, compared to Rs 208 crore in FY24.