Thakral’s Investee GemLife Lists on ASX, Raises A$750 Million in Australia’s Biggest IPO of 2025
Summary:
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GemLife Communities Group, a leading Australian over-50s lifestyle resort operator, in which Thakral Corporation holds a 16.8% stake, successfully listed on the ASX on 3 July 2025.
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GemLife’s securities rose 4.1% to A$4.33 on debut, giving it a market cap of A$1.65 billion with a trading volume of 9.12 million.
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The IPO raised A$750 million from 180.28 million stapled securities priced at A$4.16, marking it as Australia’s largest IPO this year.
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Proceeds will fund the acquisition of the Aliria Group portfolio, expanding GemLife’s pipeline from ~6,500 to ~9,836 homes, reduce debt, strengthen its balance sheet and provide working capital.
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Thakral demonstrated continued confidence by subscribing for an additional 600,962 securities, maintaining a 16.8% effective interest post-IPO.
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Thakral’s CEO Mr. Bethal noted that GemLife’s listing realises a strategic vision, reflecting investor confidence in GemLife’s leadership and long-term potential.
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Thakral continues to support GemLife’s growth as it expands its footprint across Australia.