Shriram Properties has a serious presence in South India and focuses on reasonably priced housing
Shriram Properties has filed its draft pink herring prospectus with capital market regulator Securities & Exchange Board of India. The Bangalore-based realty developer’s Rs 800 crore preliminary public providing (IPO) will embody a recent concern of shares price Rs 250 crore and a suggestion on the market of as much as Rs 550 crore by current promoters. The firm will utilise the IPO proceeds to repay and/pre-pay debt and for common company functions.
Shriram Properties has a serious presence in South India and primarily focuses on reasonably priced and mid-income housing tasks.
Axis Securities Ltd, ICICI Securities, and Nomura Financial Advisory and Securities are the guide operating lead managers to the difficulty.
Meanwhile, the IPO of realty agency Macrotech Developers closed on April 9 and the shares are prone to be listed on the BSE and NSE on April 22.
