Shriram Properties IPO News – Files draft paper to raise ₹800 Crores

After Lodha Developers another real estate company Shriram Properties filed a draft red herring prospectus (DRHP) with SEBI to raise ₹800 Crores via IPO. Read details of Shriram Properties IPO in this article.

What is the business of Shriram Properties?

They are a leading real estate developer company in South India that focuses mainly on mid-market and affordable housing categories. Shriram Properties is associated with Shriram Groups which is one of the prominent brands in the financial sector which gives strong trust and brand value to Shriram properties.

As per the units launched from the year 2012 – 2018 they are among the top 5 real estate companies in Chennai and Bangalore. They also have office space and commercials, luxury housing categories, and plotted development categories in their portfolio.

For this year 2020, they achieved revenue of ₹571.96 crores versus ₹650.13 crores last year. Net loss for this year due to covid was ₹65.02 crore.

What are the objectives for the Shriram Properties IPO?

The Shriram Properties IPO comprises of the new issue of ₹250 crores and they also have offered for sale of ₹550 crores. Omega TC Sabre Holdings Pte Ltd is ready to sell ₹147.10 crores, Tata Capital Financial Services Ltd offering ₹13 crores, ₹148.90 crores by TPG Asia SFV Pte. Ltd and ₹216 crores by Mauritius Investors.

Lets see how this IPO rolls out and what will be the response of investors regarding Shriram Properties IPO.

To know more about upcoming IPOs you can track this page.

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