K Raheja Corp pushes $700M IPO out at least a year on valuation, scale concerns
The developer behind Shoppers Stop and Inorbit Malls has shelved its $700 million listing for at least a year after banker feedback flagged timing and valuation, opting to build greater scale first amid a softening market where Nifty Realty is down 7%.
K Raheja Corp, parent of department store chain Shoppers Stop and Inorbit malls, has delayed its $700 million IPO by at least a year on banker feedback over timing and valuation, seeking greater scale first.
Why this matters
K Raheja Corp, the developer behind Shoppers Stop and Inorbit Malls, shelves its IPO to prioritize scale over a near-term listing as realty valuations soften.
Retail-company signals accelerating, up 616300% QoQ.