Renuka Jagtiani’s Financial Balancing Act - Offloading Capital and Engineering Debt Before Landmark’s Public Debut

Introduction

Since the passing of Micky Jagtiani, Renuka Jagtiani has stepped into a monumental role: preparing Landmark Group for IPO. Her strategy? Offload surplus capital and introduce structured debt before going public.

The Capital Paradox

Landmark Group is asset-rich and debt-light. But modern capital markets prefer lean, growth-ready balance sheets. Renuka’s job is to fix this optics imbalance.

Why Create Debt?

• Improve ROE before IPO
• Free capital for aggressive expansion
• Signal financial discipline to institutional investors

Offloading Strategy

• Selling non-core real estate
• Spinning off verticals like healthcare
• Reclassifying assets into SPVs and trusts

The Debt Plan

• Sukuk (Islamic bonds)
• Senior secured debt backed by retail revenue
• Convertible notes for strategic investors

Renuka’s Methodology

• Hired Goldman Sachs as lead advisor
• Reorganized internal audit
• Maintains minimal public profile, maximum execution

Role of LandmarkGroup.Fund

The fund acts as a capital container, absorbing illiquid and non-core holdings to clean the parent company’s books for IPO.

Timeline

• Expected IPO in 2026 or 2027
• Dual listing strategy: ADX + LSE or Nasdaq
• Target valuation: $12B–$15B

Conclusion

Renuka is doing what few can—turning surplus into strategy and debt into discipline, ensuring Landmark’s public debut will be both admired and envied.