Bookbuilding IPO | ₹600 Cr | Listed at BSE, NSE | Wed, Dec 8, 2021 - Fri, Dec 10, 2021
Shriram Properties IPO is a book build issue of ₹600.04 crores. The issue is a combination of fresh issue of 2.12 crore shares aggregating to ₹250.20 crores and offer for sale of 2.97 crore shares aggregating to ₹349.84 crores.
Shriram Properties IPO bidding started from Dec 8, 2021 and ended on Dec 10, 2021. The allotment for Shriram Properties IPO was finalized on Dec 15, 2021. The shares got listed on BSE, NSE on Dec 20, 2021.
Shriram Properties IPO price band is set at ₹118 per share. The lot size for an application is 125. The minimum amount of investment required by an retail is ₹14,750 (125 shares) (based on upper price). The lot size investment for sNII is 14 lots (1,750 shares), amounting to ₹2,06,500, and for bNII, it is 68 lots (8,500 shares), amounting to ₹10,03,000.
The issue includes a reservation of up to 2,80,373 shares for employees offered at a discount of ₹11.00 to the issue price.
Axis Capital Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Refer to Shriram Properties IPO RHP for detailed Information.
IPO Open
Wed, Dec 8, 2021
IPO Close
Fri, Dec 10, 2021
Issue Price
₹118 per share
Market Cap (Pre-IPO)
₹2,001.56 Cr
| IPO Date | 8 to 10 Dec, 2021 |
| Listed on | Mon, Dec 20, 2021 |
| Face Value | ₹10 per share |
| Price Band | ₹113 to ₹118 |
| Issue Price | ₹118 per share |
| Lot Size | 125 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Employee Discount | ₹11.00 |
| Total Issue Size | 5,08,73,592 shares (agg. up to ₹600 Cr) |
| Fresh Issue | 2,12,12,576 shares (agg. up to ₹250 Cr) |
| Offer for Sale | 2,96,61,016 shares of ₹10 (agg. up to ₹350 Cr) |
| Share Holding Pre Issue | 14,84,11,448 shares |
| Share Holding Post Issue | 16,96,24,024 shares |
| BSE Script Code / NSE Symbol | 543419 / SHRIRAMPPS |
| ISIN | INE217L01019 |
Shriram Properties IPO comprises a total issue size of 5,08,73,592 shares. The net offer to the public is 5,05,93,219 shares, after excluding 2,80,373 shares under a preferential allotment. Of the Net offer 3,79,44,916 (75.00%) are allocated to QIB, 75,88,982 (15.00%) allocated to NII 50,59,321 (10.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue | Max Allottees |
|---|---|---|---|---|
| QIB Shares Offered | 3,79,44,916 | 75.00% | 74.59% | NA |
| − Anchor Investor Shares Offered | 2,27,66,949 | 44.75% | NA | |
| − QIB (Ex. Anchor) Shares Offered | 1,51,77,967 | 29.83% | NA | |
| NII (HNI) Shares Offered | 75,88,982 | 15.00% | 14.92% | NA |
| Retail Shares Offered | 50,59,321 | 10.00% | 9.94% | 40,474 |
| Preferential Reservations | ||||
| Employee Shares Offered | 2,80,373 | 0.55% | NA | |
| Total Shares Offered | 5,08,73,592 | 100.00% | 100.00% | |
Investors can bid for a minimum of 125 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 125 | ₹14,750 |
| Retail (Max) | 13 | 1,625 | ₹1,91,750 |
| S-HNI (Min) | 14 | 1,750 | ₹2,06,500 |
| S-HNI (Max) | 67 | 8,375 | ₹9,88,250 |
| B-HNI (Min) | 68 | 8,500 | ₹10,03,000 |
Shriram Properties IPO raises ₹268.65 crore from anchor investors. Shriram Properties IPO Anchor bid date is December 7, 2021.
📝 Anchor Investors Letter (PDF)
| Bid Date | Tue, Dec 7, 2021 |
| Shares Offered | 2,27,66,949 |
| Anchor Portion (₹ Cr.) | 268.65 |
| Anchor lock-in period end date for 50% shares (30 Days) | Fri, Jan 14, 2022 |
| Anchor lock-in period end date for remaining shares (90 Days) | Tue, Mar 15, 2022 |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
Incorporated in 2000, Shriram Properties is a part of the Shriram Group and is one of the leading residential real estate development companies in South India. The company primarily focuses on the mid-market and affordable housing segments. The company is also present in the mid-market premium and luxury housing categories as well as commercial and office space categories. Bengaluru and Chennai are the key markets for the company. The company also has operations in Coimbatore, Visakhapatnam, and Kolkata.
As of September 30, 2021, the company has completed 29 projects, out of which 24 are in the cities of Bengaluru and Chennai. As of September 30, 2021, the company has a total portfolio of 35 projects in ongoing, projects under development, and forthcoming projects, stages, aggregating to 46.72 million square feet of estimated saleable area.
Competitive Strengths:
| Period Ended |
|---|
| Amount in ₹ Crore |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Repayment and/ or pre-payment, in full or part, of certain borrowings availed by the Company and our Subsidiaries, Shriprop Structures, Global Entropolis and Bengal Shriram; and | 200.00 |
| 2 | General corporate purposes, subject to applicable laws | 30.42 |
The Shriram Properties IPO is subscribed 4.6 times on December 10, 2021 5:00:00 PM (Day 3). The public issue subscribed 12.72 times in the retail category, 1.85 times in the QIB category, and 4.82 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 1.85 | 1,58,49,559 | 2,93,44,500 |
| NII | 4.82 | 79,24,778 | 3,82,13,250 |
| Retail | 12.72 | 52,83,185 | 6,71,97,125 |
| Employee | 1.25 | 2,94,117 | 3,67,000 |
| Total | 4.6 | 2,93,51,639 | 13,51,21,875 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | BRLMs fees and commissions (including underwriting commission, brokerage and selling commission) | 21.60 |
| 2 | Selling commission/processing fee for SCSBs, Sponsor Bank and fee payable to the Sponsor Bank for Bids made by RIBs(1)(3) | 0.55 |
| 3 | Brokerage and selling commission and bidding charges for members of the Syndicate (including their sub-Syndicate Members), Registered Brokers, RTAs and CDPs(2) | 1.22 |
| 4 | Fees payable to the Registrar to the Offer | 0.03 |
| 5 | Fees payable to the other advisors to the Offer | 3.55 |
| 6 | Others | |
| 7 | - Listing fees, SEBI filing fees, upload fees, BSE & NSE processing fees, book building software fees and other regulatory expenses | 3.58 |
| 8 | - Printing and stationery | 2.22 |
| 9 | - Advertising and marketing expenses | 6.13 |
| 10 | - Fee payable to legal counsels | 6.07 |
| 11 | - Miscellaneous | 2.05 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹118.00 | ₹118.00 |
| Open | ₹94.00 | ₹90.00 |
| Low | ₹91.75 | ₹90.00 |
| High | ₹106.35 | ₹106.40 |
| Last Trade | ₹99.40 | ₹99.60 |
Shriram Properties IPO is a main-board IPO of 5,08,73,592 equity shares of the face value of ₹10 aggregating up to ₹600 Crores. The issue is priced at ₹118 per share. The minimum order quantity is 125.
The IPO opens on Wed, Dec 8, 2021, and closes on Fri, Dec 10, 2021.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Shriram Properties IPO using UPI as a payment gateway. Zerodha customers can apply in Shriram Properties IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Shriram Properties IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Shriram Properties IPO opens on Wed, Dec 8, 2021 and closes on Fri, Dec 10, 2021.
Shriram Properties IPO lot size is 125, and the minimum amount required for application is ₹14,750.
You can apply in Shriram Properties IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Shriram Properties IPO will be done on Wednesday, December 15, 2021, and the allotted shares will be credited to your demat account by Fri, Dec 17, 2021. Check the Shriram Properties IPO allotment status.
The Shriram Properties IPO listing date is on Mon, Dec 20, 2021.
