IPO Alert: Shriram Properties files draft prospectus with SEBI

Informist, Saturday, Apr 10, 2021


NEW DELHI – Shriram Properties Ltd filed its draft red herring prospectus with the Securities and Exchange Board of India on Friday for its initial public offering, the company today said in a press release.


The issue comprises shares with a face value of 10 rupees each aggregating up to 8 bln rupees. The fresh issue consists of fresh issuance of shares worth up to 2.5 bln rupees and an offer for sale of up to 5.5 bln rupees.


The offer for sale consists of 1.47 bln rupees of shares by Omega TC Sabre Holdings Pte Ltd, 130 mln rupees by Tata Capital Financial Services Ltd, up to 1.49 bln rupees by TPG Asia SF V Pte. Ltd, up to 2.16 bln rupees by WSI/WSQI V (XXXII) Mauritius Investors Ltd and up to 250 mln rupees by the Other Selling Shareholders, as per the definition in the prospectus.


The offer includes a reservation for subscription by eligible employees of the real-estate developer, the company said in the release.


The real-estate company intends to use the proceedings from the fresh issue to repay borrowings availed by the company and its subsidiaries, and general corporate purposes, the company said.


Axis Capital Ltd, ICICI Securities Ltd and Nomura Financial Advisory and Securities (India) Pvt Ltd are the book running lead managers to the issue.


The shares are proposed to be listed on the BSE and the National Stock Exchange. (Suyash Pande)




Edited by Mainak Moitra


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