Shriram Properties Ltd IPO Details, Date, Share Price Range, Issue Size
Author: Libord Brokerage Pvt. Ltd Posted on 06 Dec 2021 11:53:12Category : ipo news
Shriram Properties Ltd IPO Details:
Shriram Properties Ltd. has announced public offering of 50847457 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 108.00 per share. The gross proceeds of the issue are expected to be Rs 60,000.00 lakhs.
The company's initial public offer (IPO) will open on 08 December 2021 and is expected to close on 10 December 2021, subject to customary closing conditions. The price band of the issue has been fixed at Rs 113.00-118.00 per share.
The IPO includes a fresh Issue of 50847457 Equity Shares of the Company at an price of Rs 118.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 125 shares with bids in multiples of 125.
Shriram Properties Ltd. anticipates using the proceeds of the issue for Repayment and/ or prepayment, in full or part, of certain borrowings availed by the Company and the Subsidiaries, Shriprop Structures, Global Entropolis and Bengal Shriram
General corporate purposes, subject to applicable laws.
Axis Capital Ltd., Nomura Financial Advisory & Securities (I) P Ltd., ICICI Securities Ltd as lead manager(s) & KFIN Technologies Pvt. Ltd. is the registrar, to the issue.
If the Shriram Properties Ltd is something that you’re looking to invest in come 08 December 2021, it would be a good idea to start the demat account opening process right away. Contact Libord Broking now to open demat account online within minutes.
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