VBHC defers initial float plan

Jerry Rao's affordable housing foray says IPO market in difficult phase; in talks for raising funds from US firm

The Jerry Rao-promoted VBHC Value Homes has deferred its initial public offering (IPO, of equity) plan to the next financial year. The earlier plan was to do this in the current one.

“After demonetisation, GST (the new goods and services tax) and Rera (the under-enforcement law to regulator the real estate sector), it (IPO this year) seems difficult. Actually, we wanted to see the March 2018 (quarter) numbers and take a call. But, April-May 2018 seems more logical,” said Jaithirth (‘Jerry’) Rao, chairman at VBHC.

The company was set up in 2008 by two former Citi Bank seniors, Rao and P S