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GMP, IPO Dates, Price Band, Other Details Here

Shriram Properties IPO: GMP, IPO Dates, Price Band, Other Details Here

Shriram Properties is planning to promote its shares within the worth band of Rs 113-118 per fairness share.

Shriram Properties share sale through preliminary public providing (IPO) will start on Wednesday, December 8 and finish on December 10. The south India-based actual property developer plans to boost Rs 600 crore through IPO which consists of a suggestion on the market price Rs 350 crore and recent difficulty of Rs 250 crore.

Under the provide on the market, Omega TC Sabre Holdings, Tata Capital Financial Services and TPG Asia SF can be collectively promoting shares within the IPO.

The firm is planning to promote its shares within the worth band of Rs 113-118 per fairness share and a retail buyers can bid for minimal one lot measurement of 125 shares and as much as most of 13 heaps. One lot of Shriram Properties shares within the IPO will price Rs 14,750.

75 per cent of the problem is reserved for certified institutional patrons, 15 per cent for top internet price people and 10 per cent for retail buyers.

Axis Capital, ICICI Securities and Nomura Financial Advisory and Securities are the e book working lead managers whereas KFin Technologies is the registrar to the problem.

Shriram Properties has a serious presence in South India and primarily focuses on reasonably priced and mid-income housing tasks.

The firm will utilise IPO proceeds to repay and/pre-pay debt and for common company functions.

Incorporated in 2000, Shriram Properties is part of the Shriram Group and is among the main residential actual property improvement corporations in South India. The firm primarily focuses on the mid-market and reasonably priced housing segments.

The firm can also be current within the mid-market premium and luxurious housing classes in addition to industrial and workplace house classes. Bengaluru and Chennai are the important thing markets for the corporate. The firm additionally has operations in Coimbatore, Visakhapatnam, and Kolkata.

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