InvestorQ : I am an investor in Shriram Transport for many years? Can you tell me details of the Shriram Properties IPO and whether one can look at investing in the IPO?
Angel dcosta made post

I am an investor in Shriram Transport for many years? Can you tell me details of the Shriram Properties IPO and whether one can look at investing in the IPO?

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Juvina Maggie answered.
5 months ago
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Shriram Properties is part of the Shriram group of South India and primarily operates in the mid- market and the affordable housing segments. It is largely based out of South India and majority of its completed projects are in Chennai and Bengaluru property markets. However, it has also expanded its real estate franchise to new locations including Coimbatore, Visakhapatnam and Kolkata. The IPO will be mix of fresh issue and OFS.

The Rs.600 crore IPO will have a fresh issue of Rs.250 crore and an OFS for Rs.350 crore. Early investors will offer 2,96,61,017 shares in the OFS while the fresh issue will be for 2,11,86,441 shares. The IPO has bene priced in the band of Rs.113 to Rs.118. The IPO opens on 08-Dec and closes on 10-Dec. Shriram will finalize basis of allotments on 15-Dec and demat credits will be done by 17-Dec. The exchange listing of the stock will be on 20-Dec.

The fresh issue portion of Rs.250 crore will be applied to reduce the debt of the Shriram Properites and its subsidiaries.

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