Realty firm Gaurs Group is set to launch its Initial Public Offering (IPO) as it seeks to capitalise on strong consumer demand and expand its business, according to Chairman and Managing Director Manoj Gaur.
Buoyed by the successful debut of its luxury housing project in Ghaziabad, which generated Rs 3,100 crore in sales within just three days, Gaur revealed that the company aims to broaden its presence in the Delhi-NCR market by developing additional housing projects.
Gaurs Group has roped in finance, tax and legal consultants to prepare for the IPO, but has not yet appointed merchant bankers. Gaur said the company will also develop commercial assets, including malls, hotels, office spaces and schools/colleges to generate stable rental income.
With a legacy spanning over 3 decades, Gaurs Group (formerly Gaursons India Ltd) has developed over 65 million sq ft and delivered 65,000 units. The Group has also ventured into allied verticals of shopping malls, schools, hotels, solar plants and construction.
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