NCR-based Gaurs Group is restructuring the company to launch its Initial Public Offering (IPO) to generate funds for constructing a 5 mn sq ft commercial project in Noida and new acquisitions. The company that turns 30 this year plans to launch an IPO in the next one or two years for construction and new acquisitions. “We are planning to launch an IPO for futuristic acquisitions.
We require money for our commercial project coming up in Noida. But before the process can begin, restructuring of the company needs to be done, several companies need to be brought under a common umbrella..
That may take almost 1.5 years,” said Manoj Gaur, chairman and managing director, Gaurs Group. "We are planning to launch our IPO in the next one or two years,” he said.
The company is looking to generate funds for construction of an almost 5 mn sq ft commercial project in Noida for which it had acquired 18 acres of land in Sector 129 and where it is planning to develop retail and office space. Also Read: Gaurs Group planning to launch an IPO in the next one or two years, more luxury project launches in the offing The project is expected to include 2.5 mn sq ft of retail space and 2 mn sq ft of space for A-Grade office space, a convention centre and a hotel.
The entire project is expected to be spread across an area of around 18 acres. The investment required for the project is likely to be around ₹ 3000 crore, he said. The company intends running the facility on a lease model, he said, a.