Shriram Properties IPO Subscription Status Day 3: Issue booked 4.6 times, retail investors queue most

It’s the last day today to apply for the initial public offer (IPO) of Shriram Properties Limited, which had been fully subscribed on the second day of the opening of the issue. The residential real estate development company is subscribed by 4.6 times till 05:00 pm on Friday, as per BSE data.

The issue received bids for 13,51,21,875 shares already against the reserved quota of 2,93,51,639 shares. 

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Retail Individual Investors(RIIs) subscribed to the issue 12.72 times, the Non-Institutional Investors portion was booked 4.82 times and the employees' quota was filled 1.85 times on the final day. 

Earlier on Thursday, the IPO was subscribed to 1.63 times till 5:00 pm on the second day. The three-day IPO that opened on December 8 will close on December 10, 2021.   

Shriram Properties on Tuesday said it has raised a little over Rs 268 crore from anchor investors ahead of its initial share sale. The company has decided to allocate 2,27,66,949 equity shares to anchor investors at Rs 118 apiece, valuing the transaction size to Rs 268.64 crore, as per BSE data. 

One of the leading players in real estate, The Chennai-based Shriram Properties Limited plans to raise Rs 600 crore via public issue, as per NSE.     

The company has fixed the price band of Rs 113 –118 per share and a lot of 125 shares for this IPO. Total issue size of Rs 600 crore comprises Rs 250 crore of fresh issue and an offer for sale of Rs 350.   

The minimum order quantity is one lot and the maximum subscription amount for retail Investors is Rs 2 lakh, while for eligible employees it is Rs 5 lakh.   

KFin Technologies Private Limited has been appointed as the registrar for this issue.   

Shriram Properties Limited IPO Timeline: 

Opening date: December 8

Closing date: December 10 

Share finalization for allotment: Likel on December 16

Refund Initiation: December 17

Transfer of shares to Demat account: Likely by December 20

Listing on exchange: December 21

Source: Edelweiss app