Square Yards to raise Rs 2,000 Cr via IPO at $1.5-$2 Bn valuation

Proptech platform Square Yards is eyeing to raise Rs 2,000 crore through an initial public offering (IPO) at a valuation of $1.5–2 billion, sources aware of the development told Entrackr.

The Gurugram-based company is in the process of appointing investment bankers and is likely to file its Draft Red Herring Prospectus (DRHP) within the current financial year.

“The planned Rs 2,000 crore Initial public offering (IPO) will be split equally between primary and secondary components, said a source. “A significant portion of the funds raised will be used to provide an exit opportunity for early investors and to reduce the company’s debt.”

Founded in 2013, Square Yards is a proptech platform that provides end-to-end real estate services, including property discovery, buying and selling, mortgage assistance, home furnishing, rentals, and property management. Square Yards operates in more than 100 cities across nine countries and has 150,000 agent partners. 

According to TheKredible, Square Yards has raised a total of $200 million of funding to date, having Reliance Group as its lead investor, which has an 8% stake in the company.

According to another source, the founders of the company are expected to hold more than 50% stake after the IPO. 

Entrackr has reached out to Square Yards for comment. 

Square Yards is targeting Rs 2,000 crore of revenue and Rs 200  crore EBITDA (Earnings before interest, tax and depreciation) by the end of the current fiscal year (FY26). 

During the previous fiscal year, Square Yards reported 40.9% year-on-year growth in its operating revenue to Rs 1410 crore, while its gross profits soared by 51.9% to Rs 316 crore in FY25, compared to Rs 208 crore in FY24.