Mr.Boman Irani and Mr.Percy Choudhary led Rustomee Group has gone into IPO Mode. The IPO fever is in the market and a lot of mid size and large companies are planning IPO in the Indian Financial Markets.
Rustomjee Group started from Dahisar in Mumbai and now under the leadership of Mr.Boman Irani is a very well established name in the Mumbai Property Market. Known for its quality, clear and transparent policies, excellent sales record and quality construction has made Rustomjee the top 5 developers of Mumbai City. To maintain this position the Rustomjee Group is now planning an IPO to raise around 1000 Cr which will be used to acquire land, complete projects and which will propel the group to another level.
Years ago Oberoi Realty, Sunteck Realty went public and there stocks have given investor good returns. Its also beneficial for Home Buyers as the developers will have double regulation on their heads one being SEBI and another being RERA.
Rustomjee currently has land banks in Thane and they are in the midst of finishing Rustomjee Paramount, Rustomjee Seasons at BKC, Rustomjee Crown which is in JV with DB Realty and Rustomjee Elements along with a few projects in Bandra East, Matunga and Thane.
The 30 years real estate experience has given the group the much needed expertise to launch a project and sell of and with extra funding now planned, the groups activity are poised to be stronger and fruitful.
In Mumbai, the Runwal Group is also planning to hit the bourses soon.