Shriram Properties to unveil ₹600-cr. IPO on Dec. 8
The Hindu
Shriram Properties Ltd. has announced the opening of an initial public offering (IPO) on December 8, at a price band of ₹113-118 per equity share. Bids can be made for a minimum of 125 equity shares a
Shriram Properties Ltd. has announced the opening of an initial public offering (IPO) on December 8, at a price band of ₹113-118 per equity share. Bids can be made for a minimum of 125 equity shares and in multiples of 125 shares thereafter.
The IPO comprises issuance of equity shares aggregating up to ₹600 crore, which includes a fresh issue of up to ₹250 crore and an offer-for-sale aggregating up to ₹350 crore.
The company proposes to utilise the net proceeds from the fresh issue towards funding repayment and/ or pre-payment, in full or part, of certain borrowings availed by it and its subsidiaries Shriprop Structures, Global Entropolis and Bengal Shriram amounting to ₹200 crore and general corporate purposes.
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