Square Yards’ IPO to raise ₹2,000 Crore...
09 Jul, 2025
Square Yards, one of India’s leading prop-tech platforms, has filed its confidential DRHP with the Securities and Exchange Board of India (SEBI). This company is planning to raise ₹2,000 crore through its initial Public offering (IPO). The IPO is set to mark a milestone for the expansion of the company worldwide and enhance its technological abilities.
Square Yards is yet to determine whether it will proceed via the traditional public filing route or the confidential route with its IPO while the details are still under process, it is known that the IPO will be split into a fresh issue of shares and OFS (Offer For Sale). Square Yards, even though still in the final stages of appointing investment bankers, has targeted the value of USD 1.5 2 billion (INR 17,151 crore), potentially making the company part of the unicorn club.
The Square Yards IPO will comprise an issue of ₹2,000 crore, with the dedicated proceeds for general improvements, branding and global expansion. The stocks are also provided through an Offer for Sale (OFS) by existing stakeholders. The filing is expected to take place between December 2025 and March 2026, depending on regulatory approvals and market conditions.
Square Yards has indicated that the funds raised through the IPO will be used to enhance its technology stack, fund expansion into global markets and boost the marketing of the company.
With IPO preparations, Square Yards has restructured its board, transitioning into a public limited company and making India its Domicile under local regulatory requirements to comply entirely with SEBI’s regulations. This is also a strategic move to enhance visibility among more Indian Investors. The start-up founders, Tanuj Shori and Kanika Gupta Shori, both hold a big ownership stake in the company post IPO, even after having secured backing from global investors like SoftBank, Tiger Global and Accel.
Square Yards has seen a brilliant increase over recent years, firmly establishing itself in the prop-tech sector, with revenue from its prop-tech solutions and real estate transactions growing by way of 30% in FY24. The company’s Gross Transaction Value (GTV) of over USD 5 billion and it continues to maintain a strong hold in the market, all because of its diverse revenue streams, consisting of home loan facilitation, property management services and investment advisory. With a track record of positive operating cash flow and robust financial discipline, Square Yards has a solid place as a promising candidate for public funding.
Square Yards, leveraging its AI-driven platform for property search and recommendations, virtual property tours and real estate investment advisory services, has firmly established itself as a leader in the prop-tech sector. The company has a global customer base, with huge domestic as well as global presence including countries like the UAE, the UK and Australia and looking forward to further expansion into Southeast Asia and the U.S. It is set apart from its competitors like it apart from competitors like Magicbricks, 99acres and others its proprietary technology stack and cross-border real estate services. Square Yards’ blend of real estate services with technology allows it to tap into emerging markets and cater to a tech-savvy consumer base who are looking for seamless real estate transactions, giving it a competitive edge.
Square Yards’ upcoming IPO is set to be a milestone of great importance in India’s rapidly growing prop-tech sector. If successful, the IPO will not only demonstrate the maturity and growth potential of India’s real estate and technology space but also provide profitable exits for early investors. With its solid financials, AI-driven and innovative business model and strategic IPO execution, Square Yards is well-positioned to lead the next wave of prop-tech listings in India.
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