Square Yards Raises Rs 900 Crore in Debt-Equity Round

Overview

• Square Yards announced the Rs 900 crore financing on Tuesday as a mix of debt and equity that the company says will be used to refinance existing liabilities and shore up its balance sheet.
• The round was anchored by EAAA Alternatives and included participation from global credit manager Muzinich & Co., signalling institutional investor confidence in the business model.
• Company-reported results for the last fiscal show revenue of Rs 2,086 crore, up 48% year-on-year, and EBITDA of Rs 176 crore, a 3.7-times increase that management cites to support growth plans.
• Multiple reports, citing unnamed sources, said the equity portion priced the company above $1 billion and gave Square Yards reported 'unicorn' status, a detail the company has not presented as an explicit line-item disclosure.
• Management says the funds will finance technology investment and market expansion ahead of a planned IPO, a move that could reduce refinancing pressure and speed scaling of its integrated real-estate services platform.