Shriram Properties Limited IPO Detail
Incorporated in 2000, Shriram Properties is a part of the Shriram Group and is one of the leading residential real estate development companies in South India. The company primarily focuses on the mid-market and affordable housing segments. The company is also present in the mid-market premium and luxury housing categories as well as commercial and office space categories. Bengaluru and Chennai are the key markets for the company. The company also has operations in Coimbatore, Visakhapatnam, and Kolkata.
As of September 30, 2021, the company has completed 29 projects, out of which 24 are in the cities of Bengaluru and Chennai. As of September 30, 2021, the company has a total portfolio of 35 projects in ongoing, projects under development, and forthcoming projects, stages, aggregating to 46.72 million square feet of estimated saleable area.
Competitive Strengths:
- Part of the reputed Shriram Group
- One of the leading residential real estate development companies in South India
- Proven capabilities in project identification and execution
- Strong strategic relationships with financial investors
- Scalable and asset-light business model
- Strong Financial Position
- Well-positioned to benefit from regulatory and industry developments
- The experienced and professional management team
Company Promoters
M. Murali, Shriram Properties Holdings Private Limited and Shriram Group Executives Welfare TrustIPO Details
| IPO Opening Date | Dec 08, 2021 |
| IPO Closing Date | Dec 10, 2021 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹113 - 118 per equity share |
| Market Lot | 125 Shares |
| Min Order Quantity | 125 Shares |
| Listing At | BSE, NSE |
| Issue Size | ₹600.00 Cr |
| Fresh Issue | ₹250.00 Cr |
| Offer for Sale | ₹350.00 Cr |
| Retail Portion | 10% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | 0x | - | - | 0.04x | 4.86x | 0.89x |
| Day 2 | 0.12x | - | - | 0.19x | 8.35x | 1.63x |
| Day 3 | 1.85x | - | - | 4.83x | 12.72x | 4.6x |
IPO Tentative Timetable
The Shriram Properties Limited IPO open date is Dec 08, 2021, and the close date is Dec 10, 2021. The issue may list on Dec 20, 2021.
| IPO Open Date | Dec 08, 2021 |
| IPO Close Date | Dec 10, 2021 |
| Basis of Allotment Date | Dec 15, 2021 |
| Initiation of Refunds | Dec 16, 2021 |
| Credit of Shares to Demat Account | Dec 17, 2021 |
| IPO Listing Date | Dec 20, 2021 |
IPO Lot Size
The Shriram Properties Limited IPO market lot size is 125 shares. A retail-individual investor can apply for up to 13 lots (1625 shares or ₹191750).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 125 | ₹14750 |
| Maximum | 13 | 1625 | ₹191750 |
IPO Promoter Holding
| Pre Issue Share Holding | 31.98% |
| Post Issue Share Holding |
Company Financials:
For the year/period ended (₹ in Crs)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 30-Sep-21 | 344 | 353 | -65.02 |
| 31-Mar-20 | 632 | 671 | -86.39 |
| 31-Mar-19 | 724 | 754 | 48.79 |
Objects of the Issue:
The IPO aims to utilize the net proceed towards the following purposes;
- Repayment and/ or pre-payment, in full or part, of certain borrowings availed by the company and its subsidiaries, Shriprop Structures, Global Entropolis and Bengal Shriram; and
- General corporate purposes, subject to applicable laws.
Shriram Properties Limited IPO Registrar:
KFin Technologies Limited
Shriram Properties Limited IPO Lead Manager(s):
Axis Capital Limited, ICICI Securities Limited, Nomura Financial Advisory And Securities (India) Pvt Ltd
