Casagrand Refiles Rs 1,220-Cr IPO Papers, Ups Offer Size for Debt Reduction

• Chennai-based Casagrand refiles DRHP for a Rs 1,220 crore IPO, increasing the offer size from Rs 1,100 crore.
• The IPO comprises a fresh issue of Rs 1,200 crore and an offer-for-sale of Rs 20 crore by promoters Arun MN and Casagrand Luxor.
• Funds will primarily be used to repay Rs 900 crore of the company's substantial Rs 4,913.6 crore debt.
• Casagrand, a major residential developer, operates in Chennai, Bengaluru, Hyderabad, and Coimbatore with numerous ongoing and forthcoming projects.
• Despite a 3.1% revenue increase to Rs 2,696 crore in FY25, profit declined by 7.6% to Rs 235.6 crore.

Why It Matters: Casagrand aims to reduce significant debt with its larger Rs 1,220 crore IPO, despite recent profit decline.