{"id":7338,"date":"2021-12-07T21:49:19","date_gmt":"2021-12-07T16:19:19","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-ipo-shriram-properties-3\/"},"modified":"2021-12-07T21:49:19","modified_gmt":"2021-12-07T16:19:19","slug":"biz-ipo-shriram-properties-3","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-ipo-shriram-properties-3\/","title":{"rendered":"Ahead of IPO, Shriram Properties garners Rs 268 cr from anchor investors"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2018794214\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>New Delhi, Dec 7 (PTI) Shriram Properties on Tuesday said it has raised a little over Rs 268 crore from anchor investors ahead of its initial share-sale, which opens for public subscription on Wednesday.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1144163527\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p>\u00a0 \u00a0 \u00a0The company has decided to allocate 2,27,66,949 equity shares to anchor investors at Rs 118 apiece, valuing the transaction size to Rs 268.64 crore, according to a BSE circular.<\/p>\n<p>\u00a0 \u00a0 \u00a0BNP Paribas Arbitrage, Societe Generale, SBI Life Insurance Co Ltd, HDFC Life Insurance Company, Sundaram Mutual Fund (MF), Aditya Birla Sun Life MF, and HDFC MF\u00a0are among the anchor investors.<\/p>\n<p>\u00a0 \u00a0The firm reduced its offer for sale size to Rs 350 crore from Rs 550 crore earlier. Now, the IPO size will be Rs 600 crore against Rs 800 crore earlier.<\/p><div class=\"trade-content_5\" id=\"trade-698023294\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>\u00a0 \u00a0 \u00a0This public issue comprises fresh issuance of equity shares worth Rs 250 crore and an offer for sale (OFS) of\u00a0 Rs 350 crore.<\/p>\n<p>\u00a0 \u00a0 \u00a0 As a part of the OFS, Omega TC Sabre Holdings Pte Ltd will offload shares worth up to Rs 90.95 crore, Tata Capital Financial Services Ltd will sell shares to the tune of\u00a0Rs 8.34 crore, while TPG Asia SF V Pte Ltd and Wsi\/Wsqi V (XXXII) Mauritius Investors Ltd will divest shares worth\u00a0up to Rs 92.20 crore and Rs 133.5 crore, respectively..<\/p>\n<p>The issue includes a reservation of equity shares worth Rs 3 crore for the company&#8217;s employees, who will receive those at a discount of Rs 11 per share on the final issue price.<\/p>\n<p>\u00a0 \u00a0 \u00a0 The issue, with a price band of Rs 113-118, opens for public subscription on December 8 and will conclude on December 10.<\/p>\n<p>\u00a0 \u00a0 The company plans to utilise the net proceeds from the fresh issue towards repayment and\/ or pre-payment of debt and general corporate purposes.<\/p>\n<p>\u00a0 \u00a0 About 75 per cent of the issue size has been reserved for qualified institutional buyers (QIBs), 15 per cent for non-institutional investors and the remaining 10 per cent for retail investors.<\/p><div class=\"trade-content-10\" id=\"trade-414238296\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>\u00a0 \u00a0 \u00a0Investors can bid for a minimum of 125 equity shares and in multiples thereof.<\/p>\n<p>\u00a0 \u00a0 \u00a0The company has a major presence in south India. It has completed various real estate projects and many are under construction.<\/p>\n<p>\u00a0 \u00a0 \u00a0 Despite the COVID-19 pandemic, the Indian real estate sector has witnessed two successful public issues of the Real Estate Investment Trust (REIT).<\/p>\n<p>\u00a0 \u00a0 \u00a0 Mindspace Business Parks REIT, owned by K Raheja, was listed in August last year after raising Rs 4,500 crore, while global investment firm Brookfield&#8217;s REIT public issue worth Rs 3,800 crore got listed in February this year.<\/p>\n<p>\u00a0 \u00a0 India&#8217;s largest realty firm Macrotech Developers, erstwhile Lodha Developers, raised Rs 2,500 crore through IPO in April. PTI SP\u00a0  \u00a0 \u00a0 \u00a0         RUJ RUJ<\/p>\n<div class=\"trade-after-content\" id=\"trade-4152286824\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>New Delhi, Dec 7 (PTI) Shriram Properties on Tuesday said it has raised a little over Rs 268 crore from anchor investors ahead of its initial share-sale, which opens for public subscription on Wednesday. \u00a0 \u00a0 \u00a0The company has decided to allocate 2,27,66,949 equity shares to anchor investors at Rs 118 apiece, valuing the transaction [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1516,31],"tags":[],"class_list":["post-7338","post","type-post","status-publish","format-standard","hentry","category-ipo","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - 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