Shriram Properties IPO: The price band of the IPO of Shriram Properties, one of the leading residential real estate development companies of South India, has been fixed. Investors can invest in this IPO of Rs 600 crore at the rate of Rs 113-118 per share. This IPO will open for subscription on 8th December and will be open till 10th December. The issue will open for anchor investors on December 7. Under this IPO, new shares worth Rs 250 crore will be issued, while shares worth Rs 350 crore will be sold under the Offer for Sale (OFS). Earlier, shares worth Rs 550 crore were to be sold under the offer for sale, but the company has reduced it.
Stock Tips: Golden chance of great profit on investment in these three stocks including TCS, the level of 17500 is important for Nifty
Shriram Properties IPO Details
- You will be able to invest money in the 600 crore IPO from December 7 to December 10.
- To invest in this IPO, a price band of Rs 113-118 per share has been fixed.
- The lot size for the issue is 125 shares. That is, according to the upper price of the price band, investors will have to invest at least Rs.14750.
- The face value per share is Rs 10.
- The allotment of shares can be fixed on December 15, while the listing of shares can be done on December 20.
- 75 per cent of the issue is reserved for Qualified Institutional Buyers (QIBs), 15 per cent for non-institutional investors and 10 per cent for retail investors. 3 crore shares have been reserved for the employees of the company and they will get shares at a discount of Rs 11.
- The registrar of the issue is KFintech Private Limited.
- The money raised through the issue will be used to service the debt of the Company and its subsidiaries (Shriprop Structures, Global Entropolis and Bengal Shriram) and for general corporate purposes.
Cibil Score: If you want to get loan easily at low interest rate, then improve your CIBIL score like this
Company related details
- Shriram Properties is a part of Shriram Group and is one of the largest residential real estate development companies in South India.
- Its main focus is in the mid-market and affordable housing segment. However, it also has a presence in the mid-market premium, comfortable housing categories, commercial and office space categories.
- Talking about the financial condition of the company, its business was affected due to Corona. Its net profit (Profit After Tax) in the financial year 2019 was Rs 48.79 crore while in the next financial year it suffered a loss of Rs 86.39 crore. Its position improved in the next financial year 2021, but still it suffered a loss of Rs 68.18 crore.
Get Business News ,, latest India News ,, and other breaking news on share market, investment scheme and much more on Business Khabar. Like us on Facebook, Follow us on Twitter for latest financial news and share market updates.
.