Dosti Realty and Moneytree Realty file confidential IPO papers with Sebi

What was filed and by whom

Dosti Realty Ltd and Moneytree Realty Services Ltd have filed IPO papers with the Securities and Exchange Board of India through the confidential route. Dosti is described as a developer founded in 1979 and based in Mumbai. Moneytree is a property consultancy; one report says it lists real estate operations and RERA registrations across Uttar Pradesh, Haryana, Maharashtra and Karnataka.

Both companies gave notice of the filings in newspapers. In two separate public notices dated September 30, the companies said they had filed the pre-filed draft red herring prospectus with Sebi and the stock exchanges for proposed main-board IPOs of their equity shares.

Dosti Realty's proposed structure and advisers

For Dosti, the proposed IPO will comprise a fresh issue of equity shares and an offer for sale, with each equity share carrying a face value of Rs 5. Trilegal is advising on the deal; Trilegal is advising Dosti Realty on this IPO. Other law firms are also reported to be involved in the transaction.

Date discrepancy in reports

The reports do not agree on the exact filing date. Public notices are dated September 30. A legal-deal report says Dosti Realty confidentially filed its pre-filed draft red herring prospectus with the Securities and Exchange Board of India (SEBI) on September 29, 2026. Until a formal record is available, both dates should be read as reported dates, not confirmed ones.

What the confidential route hides

Under the pre-filing mechanism, companies can submit their draft offer documents to the regulator and stock exchanges without immediately making the documents available in the public domain. The rule was introduced in 2022. The capital markets regulator amended the Issue of Capital and Disclosure Requirements only last month, introducing the concept of confidential filings to the domestic markets.

As a result, the proposed offer structures, financial performance, valuations and listing timelines of Dosti Realty and Moneytree Realty are unavailable at this stage. Buyers and investors cannot yet see land bank details, debt levels or revenue for either company in the filing.

What it changes for buyers, investors and the market

For home buyers, the filing does not change any project, price or possession date. It is a step in the capital-raising process. For investors, the specific metrics needed to evaluate the business, such as revenue growth, profit margins and debt-to-equity ratios, will only become available once the regulator clears the initial phase and the companies file their formal, public Red Herring Prospectus (RHP).

The filings also add to a wave of real estate listing plans. A market roundup for the same week notes that three of the four companies that used the confidential route that week are real estate names.

What happens next

The draft papers now go to Sebi for review. Filing alone does not guarantee a listing. Pre-filing a DRHP does not guarantee the company will go ahead with the initial public offering. Sebi's review can lead to questions and observations, and a company can only set a price band and open the issue after that stage.

Companies that use the route can also market the offer to large institutional buyers before the public filing. The so-called test the water clause is aimed at allowing issuers to undertake limited purpose marketing to qualified institutional buyers. Such marketing is limited to the information in the pre-filed draft. Investors should watch for the public DRHP or RHP, which will carry the figures that are missing now.