Investment bankers add weight to Jhunjhunwala's take on realty IPOs

Top private property developers say IPOs are just one source of fundraising

While a number of property developers have queued up to tap the IPO (initial public issue) markets, top stock market investors and investment bankers are not very gung-ho about property developers listing their businesses.

Recently, Mumbai-based property developer Suraj Estate Developers filed for an IPO to raise Rs 500 crore from investors. Puranik Builders has already received the nod from Sebi for an IPO. NCR-based affordable housing developer Signature Global and Mumbai-based Kalpataru are also believed to be looking at an IPO.

Ace stock market investor Rakesh Jhunjhunwala told a recent Confederation of Indian Industry event that not all property developers should