Xrbia to raise funds by IPO in 2016
Pune based real estate firm, Xrbia Developers Ltd. is planning to raise funds up to Rs 1,000 crore (estimated amount) in 2016 by launching Initial Public Offerings (IPO). Xrbia Developers Ltd. is a sister concerned company of Eiffel developer and Realtors Ltd.
The Managing Director and Chairman of Xrbia Developers, Rahul Nahar told the concerned media person that the Government’s vision of ‘Housing For All by 2022’ has worked as a motivator for Xrbia to develop more affordable housing units in major areas which are also based on the concept of sustainable development. He also mentioned that this vision is their reason to raise funds by launching the IPO, so that every individual’s housing need can be catered well.
On the other hand, the Managing Director didn’t comment on the exact amount, the company is planning to raise via this offering. Mr. Nahar clarified that this proposal is at an initial stage that is why he would not be able to reveal the money involved in it.
If sources are to be believed, Xrbia may raise up to Rs 1,000 crore by this offering. The land designer is also well determined to close the current financial year 2015-16, by crossing the revenue of Rs 200 crore.
Xrbia Developers Ltd. recently tied up with Disney Entertainment, India, for creating mega residencies inspired from Disney movies and other characters.
The leading real estate builder of Pune has launched 10 residential projects in Pune and is planning to launch 10 more in approaching year, which are currently under construction.
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