Shapoorji Pallonji Kicks Off Mega Rs 8,000-Crore Realty IPO, Selects 6 i-banks

• Shapoorji Pallonji Group has initiated an Rs 8,000-crore IPO for its real estate arm, Shapoorji Pallonji Real Estate, selecting six investment banks.
• The Mumbai-based conglomerate aims to unlock value and reduce debt at the promoter and group level through this significant issue.
• JM Financial, Motilal Oswal, Morgan Stanley, SBI Capital, UBS, and HDFC Bank are part of the syndicate of investment banks.
• Law firms Trilegal, AZB & Partners, and Sidley Austin have been engaged as legal counsel for the IPO.
• The IPO comes amidst a subdued environment for realty stocks, with major players experiencing stock dips in recent months.

Why It Matters: Shapoorji Pallonji Group launches a major Rs 8,000-crore real estate IPO to reduce debt and unlock value.