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All that you should know about the Company before applying for the IPO.

December 07, 2021     

The public issue of equity shares of Shriram Properties Limited will open for subscription on December 08, 2021 and closes on December 10, 2021. It is expected to list on the stock exchanges on December 20, 2021. What does the company do? Why is the company going public? Who are its key competitors? Its key strengths, and lot more. Here’s everything that you want to know about the company to analyse the IPO.

Company Profile

Incorporated in 2000, the Company is one of the leading residential real estate development companies in South India, primarily focused on the mid-market and affordable housing categories. The Company is part of the Shriram Group. It is among the top 5 residential real estate companies in South India in terms of number of units launched between the calendar years 2012 and Q3 of 2021 across Tier 1 cities of South India. The Company is also present in the mid-market premium and luxury housing categories as well as commercial and office space categories in its core markets. Bengaluru and Chennai are two key markets for the Company. In addition, it has presence in other cities such as Hyderabad, Coimbatore, Visakhapatnam, and Kolkata in East India, where it is developing a large mixed-use project.

The Company also focuses on the Development Management business, whereby it provides end-to-end real estate development services to smaller real estate developers and other landowners in relation to timely and quality execution, branding, marketing and sales, collections and client management and facilitating financing arrangements.

As of 30-Sep-2021, the Company has 29 Completed Projects, representing 16.76 million square feet of Saleable Area. In addition, it has a total portfolio of 35 projects (26 Ongoing Projects, 5 Projects under Development, and 4 Forthcoming Projects). The Company also has Land Reserves of approximately 197.47 Acres, with a development potential of approximately 21.45 million square feet of estimated Saleable Area (as of 30-Sep-2021).

Who are the Promoters of the Company?

M. Murali, Shriram Properties Holdings Private Limited and Shriram Group Executives Welfare Trust

Positives about the Company

  • Part of the Shriram Group and Backed by Marquee Investors
  • One of the Leading Residential Real Estate Development Companies in South India with Focus on Mid-market and Affordable Housing Categories
  • Demonstrated Capabilities in Project Identification and Strong Execution Track Record
  • Established Strategic Relationships
  • Scalable and Asset Light Business Model supported by its Strong Financial Position
  • Well Positioned to Benefit from Regulatory and Industry Developments
  • Experienced and Professional Management Team

Who are its key competitors?

  • Prestige Estates Projects Limited
  • Sobha Limited
  • Brigade Enterprises Limited
  • Oberoi Realty Limited
  • Godrej Properties Limited
  • Sunteck Realty Limited

Why is the Company going public?

Given below are the objectives of the Company –

The Company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:

  • Repayment and/ or pre-payment, in full or part, of certain borrowings availed by the Company and its Subsidiaries, Shriprop Structures, Global Entropolis and Bengal Shriram
  • General corporate purposes

The Offer comprises a Fresh Issue by the company and an Offer for Sale by the selling shareholders. The company will not receive any proceeds from the Offer for Sale.

IPO Details

IPO Size ₹ 600 Crore
Offer Mix Fresh Issue ₹ 250 Crore + Offer For Sale ₹ 350 Crore
Price Band ₹ 113- ₹ 118
Lot Size 125 Shares (& in multiples thereof)
Face Value ₹ 10
Application Amount Min. ₹ 14,750 (1 lot) | Max. ₹ 1,91,750 (13 lots) [at upper price band]
Listing on NSE & BSE
Registrar KFin Technologies Private Limited
Discount ₹ 11 per equity share for Eligible Employees Category only
Cut-off time for UPI Mandate Confirmation 13-Dec-2021 (up to 12:00 PM)

Category Wise Availability

QIB ₹ 447.75 Crore
(75% of Net Issue Size)
NIB ₹ 89.55 Crore
(15% of Net Issue Size)
Retail ₹ 59.70 Crore
(10% of Net Issue Size)
Employee Reservation Portion ₹ 3 Crore

Indicative Issue Timeline

Activity Date
IPO Opens December 08, 2021
IPO Closes December 10, 2021
Finalization of the basis of allotment December 15, 2021
Unblocking of funds / Initiation of refunds December 16, 2021
Credit of equity shares to Demat accounts December 17, 2021
Listing of equity shares December 20, 2021
Source: Company RHP
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