One of the oldest and most reputated realtor of Mumbai, the Wadhwa Group is planning to raise ~INR 2,000 to 2,500 crore via IPO route, according to some industry reports. There were many successful IPOs from the real estate sector in the past such as: Macrotech Developers (Lodha Group), Keystone Realtors (Rustomjee), Arkade Developers and Suraj Estate Developers. If Wadhwa Group’s IPO plans succeeded, it will be one of the largest real estate IPOs from Mumbai in recent times.
Wadhwa Group IPO Details & Valuation
Wadhwa Group is looking at a post-IPO valuation of around INR 9,000 crore. IPO draft papers in advanced stage and is expected to be filed with SEBI within a month. ICICI Securities, JM Financial and DAM Capital have been appointed as the investment bankers for the issue. The exact size of the issue and pricing will depend on market conditions and investor appetite at the time of launch.
The proceeds will be used for two purposes:
- Debt reduction on the company’s balance sheet
- Funding the development of upcoming residential and commercial projects
Wadhwa Group: Five Decades of Legacy
Established in 1969, Wadhwa Group has been in business for five decades and has delivered over 250 projects. The company’s operations are in residential, commercial and integrated township developments across MMR.
Wadhwa has a development portfolio of around 4.1 million square meters. The group has a loyal customer base of over 35,000 customers and a client list of more than 150 MNCs.
Wadhwa Group – Property Portfolio
Wadhwa Group’s commercial assets include:
- The Capital in BKC
- Platina in BKC
- Trade Centre in BKC
Beyond BKC, Wadhwa has expanded to the suburbs with office properties in Borivali, Mulund, Chembur and Vashi (Navi Mumbai). The group is also developing Venue 52 in Khar, a western suburb of Mumbai.
On the residential front, Wadhwa is working on projects in Chembur, Juhu, Mulund, Kandivali and Panvel. Its Panvel project is an integrated township spread over 450 acres, a big expansion outside central Mumbai.
Real Estate IPO Boom
The real estate sector in Mumbai has been riding a wave of investor enthusiasm—and IPO activity—since the pandemic. That enthusiasm shows no signs of abating. Take the Lodha Group’s Macrotech Developers, which raised INR 2,500 crore in 2021. Keystone Realtors (Rustomjee) followed suit in November 2022, garnering INR 635 crore. Arkade Developers raised INR 410 crore in September 2024, and Suraj Estate Developers brought in INR 400 crore via IPO in December 2023.
The latest player to join the fray is Runwal Enterprises, which has just filed draft papers for a proposed INR 1,000 crore IPO. That move underlines just how bullish the sector is.
Final Thought
As Wadhwa Group prepares to tap into public markets, it brings with it a legacy of trust, years of proven execution capabilities—and a portfolio of strategically located properties. Success will depend on market conditions, how investors view real estate valuations right now—and whether Wadhwa can keep that growth momentum going after listing.
Given its size and solid fundamentals, that IPO is likely to draw a lot of attention from both institutional and retail investors. And that attention will only add to the momentum already driving the sector.ficant attention from institutional as well as retail investors — further adding momentum to Mumbai’s real estate stock resurgence. For more details related to IPO GMP, SEBI IPO Approval, and Live Subscription stay tuned to IPO Central.