GemLife, the Gold Coast-based land lease community operator that staged Australia’s largest IPO of 2025, is “just at the beginning of a new journey,” according to one of its biggest shareholders.
Inderbethal Singh Thakral, CEO and executive director of Thakral Corporation – a diversified Singapore-listed company and GemLife’s original financial backer – told The Edge the float marked a turning point.
“We didn’t sell a single share into the IPO … We think this is just the start of a new journey for us because the new journey is more exciting than it ever was for the last nine years,” he said. Thakral’s stake was diluted to 16.8% from 31.7% post-IPO.
GemLife raised $750 million through the listing, offering 180.28 million stapled securities at $4.16 each. Since debuting in July, its share price has climbed nearly 9% to $4.53. Proceeds have funded the $218 million acquisition of the Aliria Group and will be used to reduce debt.
“From GemLife’s perspective, this couldn’t be a better time [for a listing],” Inderbethal said, adding the operator is now in “game on” mode with a substantial war chest.
