Ashwin Sheth to invest Rs 5,000 cr to expand biz, to launch IPO in 2 yrs

Realty firm Ashwin Sheth Group on Tuesday announced an investment of around Rs 5,000 crore to expand its business and plans to launch its maiden public issue in the next 18-24 months to raise up to Rs 3,000 crore.

The Mumbai-based company said it has achieved sales bookings of around Rs 1,500 crore during the last fiscal, a three-fold increase from the 2022-23 financial year.

"We are targeting to double our sales bookings to Rs 3,000 crore in the current 2024-25 fiscal," the company's CMD Ashwin Sheth told reporters here.

He said the company plans to expand its business portfolio in the Mumbai Metropolitan Region (MMR) and is foraying into Bengaluru, Delhi-NCR.

It is also exploring to enter Hyderabad, Chennai and Goa.

"We are planning to launch an Initial Public Offering (IPO) in the next 18-24 months," Sheth said, adding that the company intends to raise Rs 2,000-3,000 crore through the public issue.

Ashwin Sheth Group will also enter into other segments like warehousing.

"Indi