Shriram Properties IPO garners 89 pc subscription on first day

The qualified Institutional Buyers QIBs portion did not receive any bids on the first day.On Tuesday, the company mopped up a little over Rs 268 crore from anchor investors.The public issue comprises fresh issuance of equity shares worth Rs 250 crore and an offer for sale of Rs 350 crore.


PTI | New Delhi | Updated: 08-12-2021 20:16 IST | Created: 08-12-2021 20:16 IST
Shriram Properties IPO garners 89 pc subscription on first day
  • Country:
  • India

The initial public offer of Shriram Properties attracted 89 per cent subscription on the first day of the offer on Wednesday.

The quota for the Retail Individual Investors (RIIs) was subscribed 4.85 times. The realty player is the 57th company to come out with an Initial Public Offer (IPO) so far this calendar year.

The latest data available on the BSE showed that for 2,93,51,639 shares of the company on offer, bids were received for 2,60,79,375 shares, which translates to a subscription of 89 per cent.

For the RII category, there were bids for 2,56,48,125 shares against 52,83,185 shares on offer.

The category for the non-institutional investors got 4 per cent subscription and that for employees was subscribed 36 per cent. The qualified Institutional Buyers (QIBs) portion did not receive any bids on the first day.

On Tuesday, the company mopped up a little over Rs 268 crore from anchor investors.

The public issue comprises fresh issuance of equity shares worth Rs 250 crore and an offer for sale of Rs 350 crore. The price band for the offer is Rs 113-118 per share.

The net proceeds from the fresh issue towards repayment and/ or pre-payment of debt and general corporate purposes.

About 75 per cent of the issue size has been reserved for qualified institutional buyers (QIBs), 15 per cent for non-institutional investors, and the remaining 10 per cent for retail investors.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

Give Feedback