NEW DELHI: Shriram Properties has fastened a worth band of Rs 113-118 a share for its Rs 600-crore preliminary share-sale, which can open for public subscription on December 8.
The three-day preliminary public providing (IPO) will conclude on December 10, the bidding for anchor traders will open on December 7, in accordance with the corporate.
The agency has lowered its provide on the market measurement to Rs 350 crore from Rs 550 crore earlier. Now, the IPO measurement can be Rs 600 crore towards Rs 800 crore earlier.
This public situation includes contemporary issuance of fairness shares price Rs 250 crore and a suggestion on the market (OFS) of Rs 350 crore.
As part of the OFS, Omega TC Sabre Holdings Pte Ltd will offload shares price as much as Rs 90.95 crore, Tata Capital Monetary Companies Ltd will promote shares to the tune of Rs 8.34 crore, TPG Asia SF V Pte Ltd will divest shares price as much as Rs 92.20 crore and Wsi/Wsqi V (XXXII) Mauritius Buyers Ltd will promote shares price Rs 133.5 crore.
The difficulty features a reservation of fairness shares price Rs 3 crore for the corporate’s workers who will obtain these shares at a reduction of Rs 11 per share to remaining situation worth.
The corporate plans to utilise the web proceeds from the contemporary situation in the direction of compensation and/ or pre-payment of debt and basic company functions.
About 75 per cent of the problem measurement has been reserved for certified institutional patrons (QIBs), 15 per cent for non-institutional traders and the remaining 10 per cent for retail traders.
Buyers can bid for at least 125 fairness shares and in multiples thereof.
The corporate has a significant presence in south India. It has accomplished varied actual property tasks and plenty of tasks are beneath building.
Regardless of the COVID-19 pandemic, the Indian actual property sector has witnessed two profitable public problems with the Actual Property Funding Belief (REIT).
Mindspace Enterprise Parks REIT, owned by Okay Raheja, was listed in August final yr after elevating Rs 4,500 crore, whereas world funding agency Brookfield’s REIT public situation price Rs 3,800 crore bought listed in February this yr.
India’s largest realty agency Macrotech Builders, erstwhile Lodha Builders, raised Rs 2,500 crore by way of IPO in April.
The three-day preliminary public providing (IPO) will conclude on December 10, the bidding for anchor traders will open on December 7, in accordance with the corporate.
The agency has lowered its provide on the market measurement to Rs 350 crore from Rs 550 crore earlier. Now, the IPO measurement can be Rs 600 crore towards Rs 800 crore earlier.
This public situation includes contemporary issuance of fairness shares price Rs 250 crore and a suggestion on the market (OFS) of Rs 350 crore.
As part of the OFS, Omega TC Sabre Holdings Pte Ltd will offload shares price as much as Rs 90.95 crore, Tata Capital Monetary Companies Ltd will promote shares to the tune of Rs 8.34 crore, TPG Asia SF V Pte Ltd will divest shares price as much as Rs 92.20 crore and Wsi/Wsqi V (XXXII) Mauritius Buyers Ltd will promote shares price Rs 133.5 crore.
The difficulty features a reservation of fairness shares price Rs 3 crore for the corporate’s workers who will obtain these shares at a reduction of Rs 11 per share to remaining situation worth.
The corporate plans to utilise the web proceeds from the contemporary situation in the direction of compensation and/ or pre-payment of debt and basic company functions.
About 75 per cent of the problem measurement has been reserved for certified institutional patrons (QIBs), 15 per cent for non-institutional traders and the remaining 10 per cent for retail traders.
Buyers can bid for at least 125 fairness shares and in multiples thereof.
The corporate has a significant presence in south India. It has accomplished varied actual property tasks and plenty of tasks are beneath building.
Regardless of the COVID-19 pandemic, the Indian actual property sector has witnessed two profitable public problems with the Actual Property Funding Belief (REIT).
Mindspace Enterprise Parks REIT, owned by Okay Raheja, was listed in August final yr after elevating Rs 4,500 crore, whereas world funding agency Brookfield’s REIT public situation price Rs 3,800 crore bought listed in February this yr.
India’s largest realty agency Macrotech Builders, erstwhile Lodha Builders, raised Rs 2,500 crore by way of IPO in April.
Supply: Times of India