Casagrand Premier Builder IPO
Casagrand Premier Builder IPO — date, issue size, SEBI status & DRHP details 2025
Casagrand Premier Builder filed its draft red herring prospectus (DRHP) with SEBI on 31 Dec 2025 for an IPO of a fresh issue of up to ₹1,200 crore and an offer for sale of up to ₹20 crore. The draft is no longer on SEBI's list of pending offer documents. The price band, lot size and IPO dates are not announced yet.
Casagrand Premier Builder is a Chennai-based residential developer with 103 completed and 57 ongoing projects as of 30 June 2025. Revenue from operations was Rs 2,695.89 crore in FY2025, with a profit after tax of Rs 234.52 crore.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the DRHP filed with SEBI
Where the Casagrand Premier Builder IPO stands
From draft to listing. Today is 11 November 2026.
- DRHP filed 31 Dec 2025
- SEBI observations Done
- RHP & price band TBA
- Bidding TBA
- Listing TBA
| DRHP filed with SEBI | 31 Dec 2025 |
|---|---|
| SEBI status | SEBI review completed |
| RHP, price band & dates | Not announced |
Casagrand Premier Builder IPO details
The offer as the DRHP describes it. Terms can change in the RHP.
| Issue type | Fresh issue and offer for sale |
|---|---|
| Fresh issue | Up to ₹1,200 Cr |
| Offer for sale | Up to ₹20 Cr |
| Total issue size | ₹1,220 Cr |
| Pre-IPO placement | Up to ₹240 Cr (reduces the fresh issue) |
| Face value | ₹2 per share |
| Proposed listing | BSE, NSE |
| Price band | Not announced (comes with the RHP) |
| Lot size | Not announced |
| IPO dates | Not announced |
| Book running lead managers | Motilal Oswal Investment Advisors Limited, DAM Capital Advisors Limited |
| Registrar | KFin Technologies Limited |
Who is selling in the offer for sale
| Selling shareholder | Type | Offering | Avg. cost / share |
|---|---|---|---|
| Arun MN | Promoter | Up to Rs 10 crore | Rs 0.07 |
| Casagrand Luxor Private Limited | Promoter | Up to Rs 10 crore | Rs 12.94 |
Arun MN holds shares at an average cost of Rs 0.07 each and Casagrand Luxor at Rs 12.94 each, as certified by the auditors, and no shares were transacted at a price in the last three years other than a gift and a bonus issue.
Strengths & risks
The case for and against, from the DRHP's own numbers and risk factors.
Strengths · 6
- 01The company holds about 25% of Chennai launches and about 18% of demand from 1 January 2017 to 30 June 2025, according to the CBRE report.
- 02It had 103 completed projects with 21.79 million square feet and 57 ongoing projects with 44.10 million square feet as of 30 June 2025.
- 03Pre-sales value rose from Rs 3,546.81 crore in FY2023 to Rs 6,217.78 crore in FY2025, and collections rose from Rs 2,734.06 crore to Rs 5,129.49 crore.
- 04EBITDA margin improved from 25.76% in FY2023 to 30.35% in FY2025, and profit after tax margin was 8.45% in FY2025.
- 05Operating cash flow was Rs 806.11 crore positive in FY2025, after being negative in FY2024 and FY2023.
- 06The pipeline is large: 21 forthcoming projects with an estimated 23.81 million square feet are planned beyond the ongoing ones.
Risks · 10
- 01Chennai makes up 82.65% of completed, 75.10% of ongoing and 56.61% of forthcoming saleable area, so one city drives the business.
- 02Total borrowings were Rs 4,229.73 crore against a total equity of Rs 993.17 crore at 31 March 2025, a debt to equity of 4.26.
- 03The fresh issue of Rs 1,200 crore is more than the net worth of Rs 965.89 crore as on 30 June 2025.
- 04The company reported a loss of Rs 32.51 crore for the three months ended 30 June 2025, and operating cash flow was negative Rs 214.85 crore in that period.
- 05Revenue grew only 3.13% in FY2025 and 4.90% in FY2024, a CAGR of 4.01% from FY2023 to FY2025, even as ongoing area grew sharply.
- 06The mid-end category gave 84.51% of FY2025 revenue from contracts with customers, so a change in buyer taste in that segment would hit sales.
- 07Litigation against the company covers 18 tax proceedings, 8 regulatory proceedings and 233 RERA complaints involving the company and subsidiaries worth Rs 52.77 crore.
- 08The Income Tax Department searched the company, subsidiaries and the promoter in 2023, seized cash of Rs 5.30 crore and issued reassessment orders in March 2025. Contingent liabilities were Rs 349.77 crore as at 30 June 2025.
- 09Rs 650 crore of the fresh issue goes to repay subsidiary loans and a prepayment penalty of typically 2.00% may apply, while the general corporate purposes amount is not yet fixed.
- 10An earlier draft filed on 19 September 2024 was withdrawn on 22 December 2025 after complaints were made to SEBI and the lead manager.
Casagrand Premier Builder financials
Restated figures in ₹ crore, as reported in the DRHP.
| ₹ crore | 30 Jun 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Revenue from Operations | 172.14 | 2695.89 | 2613.99 | 2491.95 |
| Total Income | 192.94 | 2775.60 | 2669.75 | 2513.69 |
| EBITDA | 74.00 | 818.32 | 813.71 | 641.80 |
| Profit After Tax | -32.51 | 234.52 | 256.95 | 226.12 |
| Net Worth | 965.89 | 993.17 | 699.80 | 444.36 |
| Total Borrowing | 4472.17 | 4229.73 | 3633.65 | 2450.21 |
| Total Assets | 15432.09 | 13894.99 | 9837.21 | 7355.56 |
Key ratios (FY25)
P/E and market capitalisation need the price band and are added when the RHP is out.
Where the IPO money goes
₹900 crore of the fresh issue is earmarked to named objects; offer for sale proceeds go to the selling shareholders, not the company.
About Casagrand Premier Builder
The company sells apartments and independent villas in luxury, mid-end and affordable categories. Besides Chennai, it works in Bengaluru in Karnataka, Hyderabad in Telangana and Coimbatore in Tamil Nadu. The mid-end category gave 84.51% of revenue from contracts with customers in FY2025 and 92.19% in FY2024.
As of 30 June 2025 the company had 103 completed projects with a saleable area of 21.79 million square feet. It also had 57 ongoing projects with a saleable area of 44.10 million square feet and 21 forthcoming projects with an estimated saleable area of 23.81 million square feet. Ongoing saleable area has grown from 14.13 million square feet at the end of FY2023 to 37.74 million square feet at the end of FY2025.
The company launched 17 projects with 13.49 million square feet in FY2025, against 18 projects with 12.64 million square feet in FY2024. Pre-sales value was Rs 6,217.78 crore in FY2025 and Rs 4,783.56 crore in FY2024. Collections were Rs 5,129.49 crore in FY2025.
The promoters are Arun MN, who is the Chairman and Managing Director, and Casagrand Luxor Private Limited. The business is run through a large group of subsidiaries. The registered and corporate office is at Thiruvanmiyur, Chennai.
The industry
The company operates in the residential segment of Indian real estate. The draft red herring prospectus says residential growth is driven by urbanisation, higher per capita earnings, growth in service industries and the nuclearisation of families. According to the CBRE report, absorption in dwelling units has risen across the top cities, including Bengaluru, Chennai and Hyderabad. The extract read for this page does not carry the report's market size figures.
Customer concentration: The company sells to individual home buyers, and the mid-end category gave 84.51% of FY2025 revenue from contracts with customers.
Promoters & management
Promoters and promoter group hold 100.00% before the issue: Arun MN 49.99%, Casagrand Luxor Private Limited 50.00% and Arun Mn Estate and Family Welfare Trust a negligible share.
| Name | Role |
|---|---|
| Arun MN | Chairman and Managing Director |
| Sumanth Krishna Raghunathan | Whole-Time Director |
| CG Sathish | Executive Director |
| Raju Venkatraman | Independent Director |
| K V Ganesh | Independent Director |
| Rohini Manian | Independent Director |
The bankers & the filings
Who is running the issue, and the SEBI documents this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Motilal Oswal Investment Advisors
59 issues handledBest listing: G R Infraprojects (+105.0%). Weakest: R K Swamy (-13.2%).
Dam Capital Advisors Ltd
45 issues handledBest listing: Go Colors (+89.9%). Weakest: Metro Brands (-12.6%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Casagrand Premier Builder IPO: frequently asked
When will the Casagrand Premier Builder IPO open?
The Casagrand Premier Builder IPO dates are not announced yet. The draft is no longer on SEBI's list of pending offer documents. The company announces the dates and price band after it files its red herring prospectus (RHP) with the Registrar of Companies, usually a week or two before bidding opens. This page switches to the full IPO page with dates, price band and lot size as soon as that happens.
What is the Casagrand Premier Builder IPO price band?
The price band is not announced yet. It is set by the company and its lead managers and published with the RHP, a few days before the issue opens. The DRHP fixes only the face value of ₹2 per share.
How big is the Casagrand Premier Builder IPO?
Casagrand Premier Builder filed its draft red herring prospectus (DRHP) with SEBI on 31 Dec 2025 for an IPO of a fresh issue of up to ₹1,200 crore and an offer for sale of up to ₹20 crore. The DRHP puts the total at about ₹1,220 crore.
Has SEBI approved the Casagrand Premier Builder IPO?
The draft is no longer on SEBI's list of pending offer documents. SEBI observations are valid for 12 months; the IPO has to open within that window or the company must file again.
What is the Casagrand Premier Builder IPO GMP?
There is no grey market premium to report before the price band is announced. IPO Guru starts tracking the Casagrand Premier Builder IPO GMP once the RHP and price band are out.
What will Casagrand Premier Builder do with the IPO money?
As per the DRHP: Repay or prepay certain borrowings of the company (₹250 crore); Repay or prepay borrowings of wholly owned subsidiaries and step-down subsidiaries, through investment in them (₹650 crore); General corporate purposes.
Who are the lead managers of the Casagrand Premier Builder IPO?
The book running lead managers are Motilal Oswal Investment Advisors Limited, DAM Capital Advisors Limited. KFin Technologies Limited is the registrar.
Is Casagrand Premier Builder profitable?
Yes for the full years. Profit after tax was Rs 234.52 crore in FY2025, Rs 256.95 crore in FY2024 and Rs 226.12 crore in FY2023. For the three months ended 30 June 2025 it reported a loss of Rs 32.51 crore.
Who owns Casagrand Premier Builder?
Arun MN holds 49.99% and Casagrand Luxor Private Limited holds 50.00% before the issue. Arun Mn Estate and Family Welfare Trust holds a negligible share.
Has Casagrand filed a DRHP before?
Yes. It filed an earlier draft on 19 September 2024, which was withdrawn on 22 December 2025. The current draft red herring prospectus is dated 24 December 2025.
Other companies in the IPO pipeline
Mainboard companies with drafts filed with SEBI, same bankers first.
Know the day the price band is out.
We track every mainboard draft from SEBI filing to listing. When Casagrand Premier Builder files its RHP, this page becomes the full IPO page with dates, price band, lot size, GMP and subscription.
Not investment advice. Figures are from the company's draft offer document filed with SEBI and may change in the RHP.
