Shriram Properties' initial public offer (IPO) to raise Rs 600 crore will hit the Street on Wednesday, December 8. The IPO of Bengaluru-based residential realty developer Shriram Properties -- part of the Shriram Group -- is a combination of fresh issuance of equity worth Rs 250 crore, and an offer for sale (OFS) of equity worth Rs 350 crore by promoters and existing shareholders.

Share Market Live

NSE

ALSO READ

: IPO investing - How to read key numbers, spot red flags in a draft prospectus

Here are key things to know about the Shriram Properties IPO:

Important dates: Shriram Properties' IPO will open for bidding on December 8 and close on December 10. Shriram Properties shares are likely to be listed on stock exchanges BSE and NSE on December 20.

Issue price: Shriram Properties shares will be available for bidding in a price band of Rs 113-118.

Lot size: Potential investors will be able to bid for shares in multiples of 125 units under the IPO. At the upper end of the price band, one lot of Shriram Properties shares will be worth Rs 14,750.

Investor categories: Out of the total issue, 75 percent is reserved for qualified institutional buyers (QIBs), 15 percent for non-institutional investors and 10 percent for retail investors.

Fund utilisation: Shriram Properties aims to use the proceeds of the IPO to repay or prepay in full or in part certain borrowings by itself and its subsidiaries, and for general corporate purposes.

Financials: The company's net loss stood at Rs 68.2 crore in FY21, as against Rs 86.4 crore in the previous year. Its revenue from operations was at Rs 431.5 crore in FY21, as against Rs 572 crore in the previous year.

Company Profile: Incorporated in March 2000, Shriram Properties is a real estate development company focused on mid-market and affordable housing categories.

Catch latest stock market updates here

First Published:Dec 7, 2021 7:12 PM IST