Sahara Prime City, planning to raise Rs 3,450 crore through an Initial Public Offering (IPO), will utilize Rs 2,668 crore over the next three years. This funding will partly finance the development of approximately nineteen thousand housing units across the country.
Current Projects
Currently, Sahara Prime City is engaged in developing nine integrated townships and one residential complex in cities such as Lucknow, Indore, Nagpur, Ahmedabad, Jaipur, Solapur, and Cochin. The group’s ambitious Ambey Valley project is not included under Sahara Prime City's current undertakings.
Future Development Plans
The firm aspires to develop an additional 16 integrated townships. For this, it plans to invest another Rs 1426.83 crore from the IPO proceeds.
Expansion Across the Nation
According to the Draft Red Herring Prospectus (DRHP), the company aims to develop approximately 13.41 million square feet of residential space for upcoming projects. These ventures will span various cities, including Bangalore, Chandigarh, Jabalpur, Jodhpur, Porbandar, Haridwar, and Pune.
Sahara Prime City is thus aggressively expanding its real estate portfolio, with both current and future projects set to bolster India's residential sector.