Updated 6 December 2021 at 23:58 IST
Shriram Properties IPO to open on December 8: Check price band, lot size & other details
Shriram Properties is a leading real estate company in South India, specifically in Chennai & Bengaluru, catering to mid-market & affordable housing categories.
The three-day IPO (Initial Public Offering) of Shriram Properties will open for subscription on Wednesday, December 8 and conclude on December 10. The South India-based real estate development company has set a price band of Rs 113-118 for its Rs 600 crore public offering. The bidding for anchor investors will be live on Tuesday, December 7.
The residential real estate company has reduced its OFS (Offer for Sale) from Rs 550 crore earlier to Rs 350 crore. Now, the IPO size is Rs 600 crore rather than Rs 800 crore. The IPO consists of Rs 250 crore worth fresh issue of equity shares and OFS of Rs 350 crore.
Under OFS, Omega TC Sabre Holdings Pte Ltd will sell shares worth Rs 90.95 crore. Tata Capital Financial Services Ltd will offload to the tune of Rs 8.34 crore, Wsi/Wsqi V (XXXII) Mauritius Investors Ltd will disinvest shares worth Rs 133.5 crore and TPG Asia SF V Pte Ltd will sell shares worth up to Rs 92.20 crore.
Shriram Properties IPO: From issue date to lot size, all key details
- Shriram Properties IPO date: December 8- December 10
- Price band: Rs 113-118 per share
- Lot size: One lot contains 125 shares and in multiples thereafter.
- Shriram Properties IPO size: The Rs 600 crore-IPO includes fresh issuance of shares worth Rs 250 crore and an OFS of Rs 350 crore.
- Likely Shriram Properties IPO share allotment date: December 15
- Likely Shriram Properties IPO listing date: December 20 on BSE and NSE
Shriram Properties IPO GMP
The grey market premium or GMP is the demand of the share in the unofficial market that is going to list on BSS and NSE. The shares of Shriram Properties in the grey market are trading at a premium of Rs 20.
Shares worth Rs 3 crore has been reserved for the firm's employees who will get it at a discount of Rs 11 from the final issue price. 75% of the IPO is reserved for qualified institutional buyers (QIBs), 10% for retail investors and 15% for non-institutional buyers.
Shriram Properties is a leading real estate development company in South India, specifically in Chennai and Bengaluru, catering to mid-market and affordable housing categories. It is also present in the mid-market premium and luxury housing categories.
Image: Twitter/@shriramprops, Shutterstock
Published By : Kamal Joshi
Published On: 6 December 2021 at 23:58 IST