Monday, July 4, 2022
  • About
  • Advertise
  • Careers
Scoftware Magazine
  • Home
  • Politics
  • Business
  • Culture
  • Opinion
  • Lifestyle
  • Entertainment
  • Login
No Result
View All Result
Scoftware Magazine
Home Business

Shriram Properties IPO subscribed 45% on its opening day; check details here

Jaleel M. by Jaleel M.
December 8, 2021
in Business
0
Shriram Properties IPO subscribed 45% on its opening day; check details here
0
SHARES
16
VIEWS
Share on FacebookShare on Twitter


Shriram Properties IPO subscribed 45% on its opening day; check details here

Representational image. News18

The Rs 600-crore Initial Public Offering (IPO) of real estate developer Shriram Properties began today, 8 December. As per the company, the issue will close for subscription on 10 December. On its opening day, the IPO was subscribed 45 percent. Investors came with bids for 1.31 crore equity shares against the company’s issue size of 2.93 crore equity shares.

Meanwhile, retail investors subscribed 2.48 times against the portion set aside and employees had bid for six percent of the shares that were reserved for them. So far, qualified institutional buyers and non-institutional investors are yet to put in their bids for the offer.

Financial Listing

Shriram Properties is planning to raise Rs 600 crore through the IPO listing that comprises an offer for sale of Rs 350 crore worth of shares and a fresh issue of Rs 250 crore. A sum of Rs 268.65 crore has already been raised by the company on 7 December, through anchor investors. The shares of the IPO are priced at Rs 113-118 apiece.

Investors can bid in a lot of 125 shares, and its multiples later, as per news reports. This is the second public listing of a property firm, after Macrotech Developers Limited’s IPO of Rs 2,500 crore in April this year. Shriram Properties’ shares are expected to be listed on exchanges on 20 December.

Details about Shriram Properties

This firm has a strong hold in south Indian markets of Bengaluru and Chennai. As of September, 2021, the Shriram Properties had completed 29 projects, 35 are still under development.

Furthermore, it also has land reserves of (approximately 197.47) acre, with a development potential of approximately 21.45 million square feet in terms of saleable area.

During the second wave of coronavirus , the Shriram Properties was severely hit but it somehow managed in its growth. Meanwhile, Promoters Shriram Properties Holdings, M Murali and Shriram Group Executives Welfare Trust have 31.98 percent shareholding in this organisation. Moreover, top investors like Omega TC Sabre Holdings, Tata Capital Financial Services, TPG Asia SF V and WSI/WSQI V (XXXII) Mauritius hold the remaining stake.

Read all the Latest News, Trending News, Cricket News, Bollywood News,
India News and Entertainment News here. Follow us on Facebook, Twitter and Instagram.





Source link

Related posts

10 grams of 24-carat stands at Rs 50,790; silver at Rs 61,200 per kilogram  

10 grams of 24-carat stands at Rs 50,790; silver at Rs 61,200 per kilogram  

May 18, 2022
How will you get tax benefits under new I-T rules for charitable organisations? Read on to find out

How will you get tax benefits under new I-T rules for charitable organisations? Read on to find out

May 17, 2022
Previous Post

Reliance Chairman Mukesh Ambani says 5G rollout should be India’s national priority

Next Post

Sensex rises by 1,016 points, Nifty ends at Rs 17,469; check top winners and losers here

Next Post
Sensex rises by 1,016 points, Nifty ends at Rs 17,469; check top winners and losers here

Sensex rises by 1,016 points, Nifty ends at Rs 17,469; check top winners and losers here

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED NEWS

Expected price, specs, where to watch live stream

Expected price, specs, where to watch live stream

2 years ago
Pandemic reveals China’s domination of medical supply market, East Asia News & Top Stories

Pandemic reveals China’s domination of medical supply market, East Asia News & Top Stories

2 years ago
Cyrillic Releases New Single ‘You Put Me Down’ –

Cyrillic Releases New Single ‘You Put Me Down’ –

2 years ago
Jada Pinkett-Smith and Son Jaden React to Clip of Shane Dawson ”Sexualizing” 11-Year-Old Willow Smith

Jada Pinkett-Smith and Son Jaden React to Clip of Shane Dawson ”Sexualizing” 11-Year-Old Willow Smith

2 years ago

FOLLOW US

  • 114 Followers
  • 29.5k Followers
  • 172k Subscribers

BROWSE BY CATEGORIES

  • Business
  • Culture
  • Entertainment
  • Lifestyle
  • Music
  • National
  • News
  • Opinion
  • Politics
  • Sports
  • Tech
  • Travel
  • World News

BROWSE BY TOPICS

2018 League Balinese Culture Bali United Budget Travel Champions League Chopper Bike Doctor Terawan Istana Negara Market Stories National Exam Visit Bali

POPULAR NEWS

  • Charles B and Kamil Ghaouti Collaborate on Groovy New Track “You’re Not Mine,” featuring LauraBrown. Out on Protocol Recordings

    Charles B and Kamil Ghaouti Collaborate on Groovy New Track “You’re Not Mine,” featuring LauraBrown. Out on Protocol Recordings

    0 shares
    Share 0 Tweet 0
  • Kris Jenner Spills Details About Her Sex Life With Corey Gamble: Watch

    0 shares
    Share 0 Tweet 0
  • Sam Heughan & Graham McTavish Are Men in Kilts for Travel Show

    0 shares
    Share 0 Tweet 0
  • Salted vs. Unsalted Pistachios

    0 shares
    Share 0 Tweet 0
  • Common Saints Release New Single “Idol Eyes”

    0 shares
    Share 0 Tweet 0
  • About
  • Advertise
  • Careers

© 2020 Scoftware.com

No Result
View All Result
  • Home
  • Politics
  • Business
  • Culture
  • National
  • Sports
  • Lifestyle
  • Travel
  • Opinion

© 2020 Scoftware.com

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Terms and Conditions - Privacy Policy