Proceeds to be used to retire debt; company to expand footprint in the south while steering clear of northern and western markets
The three-day initial public offering (IPO) will conclude on December 10, the bidding for anchor investors will open on December 7
The firm has reduced its offer for sale size to Rs 350 crore from Rs 550 crore earlier
Bengaluru-based Shriram Properties is likely to launch its initial public offer before the end of August to raise up to Rs 800 crore.
Bengaluru-basedShriram Propertieshas filed a draft document with market regulator Sebi to raise up to Rs 800 crore through an initial public offer (IPO)
Bengaluru-based Shriram Properties may file a draft document this week with market regulator Sebi for its proposed initial public offer (IPO) to raise up to Rs 800 crore, according to sources.
The company has an approval to raise around Rs 1250 crore through primary and secondary markets
Shriram Properties is a residential property developer focused on the mid-market and affordable housing segment
Shriram Properties has already completed 18 million square foot projects and currently 20, million square foot projects were under various stages of construction
The company expects the value of such properties would be around 50 per cent of Shriram's portfolios in the next three-five years
The company had revamped the organisation by bringing in young people, says M Murali
Under the deal, Xander acquires 100% stake in Shriram's Gateway SEZ in Chennai
It has also decided to focus on affordable housing after govt's decision to accord it infra status