Urban Migration in India Sets Stage for Record Property IPO Year

India’s real estate developers are turning to capital markets to raise funds, signaling their confidence that the shift of millions of people toward cities will ensure robust demand.

More than half a dozen companies are lining up for initial public offerings this year that may raise nearly $3.3 billion. That compares with 291 billion rupees ($3.2 billion) of IPO proceeds for the property industry, including developers, co-working space providers and REITs, in the past 10 years combined, according to data compiled by Bloomberg.