Dosti Realty, Moneytree Realty file IPO papers with SEBI through confidential route

Representational Image. File pic.

Real estate developer Dosti Realty Ltd and property consultancy firm Moneytree Realty Services Ltd have filed preliminary papers with markets regulator Sebi through the confidential route, signalling their plans to tap the capital markets with Initial Public Offerings (IPOs).

Under the confidential pre-filing route, companies are allowed to keep their draft offer documents out of the public domain until the regulatory review process reaches a more advanced stage.

As a result, details regarding the offer structure, financial performance, valuation and listing timeline are not available at this stage.

In two separate public notices dated September 30, the companies said they have filed "the pre-filed draft red herring prospectus with Sebi and the stock exchanges" in relation to the proposed initial public offering of their equity shares on the main-board of the stock exchanges.

Dosti Realty, founded in 1979, is a Mumbai-based real estate developer with over four decades of experience in the sector. The company has delivered more than 143 properties across residential, commercial and other real estate segments in Mumbai, Thane and other markets.

MoneyTree Realty Services Ltd, a real estate consultancy firm founded in 2021, provides advisory services for residential and commercial properties across India. Headquartered in Noida, the company has expanded its presence to Gurugram, Lucknow, Ghaziabad, Mumbai, Pune and Bengaluru.

Earlier this month, Wadhwa Group Holdings Ltd, the holding company of real estate developer The Wadhwa Group, and AssetGro Fintech Ltd, the parent company of stock market research and advisory platform StockGro filed draft papers with Sebi for IPOs using the confidential route.

This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever.