Real estate tech company Square Yards is gearing up to file its Draft Red Herring Prospectus (DRHP) for a ₹2,000 crore IPO between December 2025 and March 2026, aiming for a
unicorn valuation. The offering will be a mix of fresh issue and offer for sale (OFS). The company is currently finalising investment bankers and deciding between a confidential or
regular DRHP filing route.
Founded in 2014 by Tanuj Shori and Kanika Gupta Shori, Square Yards operates across the entire real estate lifecycle from property discovery, home loans, and interior design to rental and property management. It’s one of the few Indian proptech startups with a strong global presence, earning over 25% of its revenue from markets like the Middle East, Australia, and Canada.
In FY25, the company posted ₹1,400 crore in revenue and ₹316 crore in gross profit. For FY26, it aims to hit ₹2,000 crore in revenue and ₹200 crore in EBITDA. Square Yards last raised funding in 2019 at a $300 million valuation from investors such as BCCL, Genkai Capital, ADM Capital, and Reliance Group. With this IPO, Square Yards is ready to make a strong statement in India’s evolving proptech space.
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