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

Category Wise Availability

Indicative Issue Timeline