GMP, price band, key details to know in 10 points

GMP, price band, key details to know in 10 points


Real estate developer Shriram Properties, part of Shriram Group, will launch its initial public offering (IPO) public subscription this week on Wednesday, December 8th, ending on December 10th. This will be the second public listing of a property this year. company after Macrotech Developers Ltd, formerly Lodha Developers, grew 2.5 billion through the IPO in April.

Schriram Properties Stock Exchange Details –

  • The price range has been set at 113-118 per share for his Initial sale of 600 million shares.
  • The company has reduced the size of its sales offer to 350 million 550 million before. Now, the size of the IPO will be 600 million against 800 million before.
  • This public issue includes a new issue of capital shares 250 million and a sale offer (OFS) of 350 million. The issue includes a reserve reserve for the capital shares 3 million for company employees who will receive these shares at a discount of 11 per share up to the final issue price.
  • According to market watchers, Shriram Properties shares have a premium (GMP). 20 on the gray market today.
  • Shriram Properties has proposed the partial exit of its four existing investors: TPG Capital, Tata Capital, Walton Street Capital and Starwood Capital, which hold about 58% of the company’s stakes.
  • The company plans to use the net proceeds of the new issue for the repayment and / or prepayment of debt and general corporate purposes.
  • Shriram Properties has a major presence in South India. He has completed several real estate projects and many projects are under construction.
  • About 75% of the issue size has been set aside for qualified institutional buyers (QIBs), 15% for non-institutional investors and the remaining 10% for retail investors.
  • Axis Securities Ltd, ICICI Securities Ltd and Nomura Financial Advisory and Securities Ltd are the main managers of the subject.
  • The company’s shares are expected to be listed on the BSE and NSE on December 20, 2021.

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