Shriram Properties Limited IPO oversubscribed by 1.63 times on Day 2; retail portion booked 8.35 times

The initial public offer (IPO) of Shriram Properties Limited was fully subscribed on the second day of the opening of the issue. 

Shriram Properties Limited IPO oversubscribed by 1.63 times on Day 2; retail portion booked 8.35 times
IPO of Chennai-based residential real estate development company was subscribed 1.22 times at 12.30 pm on Thursday, as per NSE data.

The initial public offer (IPO) of Shriram Properties Limited was fully subscribed on the second day of the opening of the issue. IPO of Chennai-based residential real estate development company was subscribed 1.63 times till 5:00 pm on Thursday, as per BSE data.

The issue received bids for 4,77.23.750 shares already against the reserved quota of 2,93,51,639 shares.  

Retail Individual Investors(RIIs) subscribed to the issue 8.35 times, the Non-Institutional Investors portion was booked 0.18 times and the employees' quota was filled 0.78 times.  

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Earlier on Wednesday, the IPO was subscribed to 89 per cent around 5 pm on the first 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, according to a BSE circular.  

One of the leading players in real estate, 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 – Rs 118 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.    

Minimum order quantity is one lot and a maximum subscription amount for retail Investor is Rs 2 lakh, while for eligible employees it is Rs 5 lakh.    

KFin Technologies Private Limited has been appointed as 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      

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Written By: Ravi Kant Kumar
Edited By: Preeti Verma
Updated: Thu, Dec 09, 2021
05:48 PM IST
Patna, ZeeBiz WebDesk
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