Shriram Properties IPO Subscribed 1.63 Times On Second Day Of Issue

Shriram Properties share sale via IPO was subscribed 1.63 times on Thursday, which was the second day of its issue

Shriram Properties share sale via initial public offering (IPO) was subscribed 1.63 times on Thursday, which was the second day of its issue.

The public issue subscribed 8.35 times in the retail category, 0.12 times in the qualified institutional buyers (QIBs) category, and 0.18 times in the non-institutional investors (NII) category.

 The real estate developer plans to raise Rs 600 crore via IPO which consists of an offer for sale worth Rs 350 crore and fresh issue of Rs 250 crore.

The company is selling its shares in the price band of Rs 113- Rs 118 per equity share and a retail investors can bid for minimum one lot size of 125 shares and up to maximum of 13 lots. One lot of Shriram Properties shares in the IPO will cost Rs 14,750.