India, Oct. 1 -- Mumbai-based Anarock Property Consultants Limited has filed its Draft Red Herring Prospectus (DRHP) with the capital markets regulator Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) to raise Rs.1,000 crore. The company plans to use the proceeds to fund business expansion, acquisitions, and investment in Artificial Intelligence augmentation and technology across certain business lines.

The proposed IPO comprises a fresh issue of equity shares aggregating up to Rs.550 crore and an Offer For Sale (OFS) of up to Rs.450 crore, according to the Draft Red Herring Prospectus (DRHP) filed on Oct 1.

Under the OFS, promoter selling shareholders Peter Properties Ltd and Khushi Trust, along with i...