The 600-crore initial public offering of Shriram Properties Ltd. ended with 4.6 times subscription on its final day, led by demand from retail investors.
The IPO was fully subscribed on the second day and 85% on first day.
The real estate developer sold shares at Rs 113-118 apiece, seeking a market value of Rs 2,001.3 crore at the upper end. The IPO comprised a fresh issue and an offer for sale by private equity and other selling shareholders.
Subscription Details: Day 3
The IPO was subscribed 4.60 times as of 5 p.m. on Dec. 10.
Institutional investors: 1.85 times.
Non-institutional investors: 4.82 times.
Retail investors: 12.72 times.
Employees: 1.25 times.
Research Reports On Shriram Properties IPO:
Competitive Strengths, Business Strategy, Financials: HDFC Securities Retail Research
A Play On Southern Realty Theme; Healthy Land Bank Value: Reliance Securities
Established Real Estate Developer In South India: ICICI Direct
Watch BloombergQuint's IPO Adda with Shriram Properties' MD Murali M:
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