Bengaluru based affordable housing firm VBHC Value Homes is planning an initial public offering (IPO) by 2019. The company has plans to raise upward of ?1,000 crore. It intends to use the proceeds to expand operations across the country. It may also offer exits to some of its investors. VBHC sells h
Bengaluru based affordable housing firm VBHC Value Homes is planning an initial public offering (IPO) by 2019. The company has plans to raise upward of ?1,000 crore. It intends to use the proceeds to expand operations across the country. It may also offer exits to some of its investors. VBHC sells homes in the ?16-40 lakh price bracket.
The company, co-founded by Jaithirth Rao and P S Jayakumar, is backed by a number of investors including Japanese real estate conglomerate Daiwa House Industry Co, Caspian Investment Advisors, The Carlyle Group, International Finance Corp, Tano Capital and HDFC Bank. The PE funds and small investors own over 60% stake in the company valued at over ?800 crore.
The company had earlier planned to raise money through public market in 2017. “We postponed the IPO due to policy changes like real estate regulatory bill, goods and services tax and demonetisation,” VBHC chairman Jaithirth Rao said.
Ram Walase, CEO, said, “We will launch about one million sqft of projects across Bangalore, Pune and Mumbai over the next year. Some of our existing projects will also see their next phases opening up.”
G Hari Babu, National President of NAREDCO speaks on the need of skill development at the workshop organized under the aegis of the Ministry of Housing & Urban Affairs, and Delhi RERA.