Real estate developer XRBIA Developers is planning to raise funds by tapping the share market in the next fiscal.
“We are making our company ready for an initial public offering (IPO) in the next fiscal (FY16). If we show results and deliver according to expectations, the market will value us properly and that is the time we are looking to hit the markets,” XRBIA chairman and managing director Rahul Nahar said.
We are making the documents ready so that the application can be made as soon as possible, Nahar said, adding that the company has not yet decided on the quantum of funds that the company plans to raise via the IPO.
XRBIA Developers is promoted by Eiffel Group and headquartered in Pune with realty footprints spanning across Pune and Mumbai.
The company’s debt on books currently stand at around Rs 200 crore taken from various banks for the development of projects. The company has set an ambitious target as far as developments across various cities are concerned.
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