Shriram Properties IPO subscribed 4.6 times

Mumbai: The ₹600-crore IPO of residential real estate developer Shriram Properties closed on Friday with the offer getting subscribed 4.6 times.

The portion reserved for qualified institutional buyers was subscribed 1.85 times and the quantum set aside for high net worth individuals was subscribed 4.8 times.

The retail category was subscribed 12.7 times and the portion reserved for employees was subscribed 1.2 times. The IPO, priced in a band of ₹113 to ₹118 per share, comprised a fresh issue of ₹250 crore and an offer for sale of ₹350 crore.


The company had reduced the size of the offer for sale portion to ₹350 crore from ₹550 crore which led to the IPO size coming down to ₹600 crore from ₹800 crore. On Tuesday, a day ahead of the IPO opening, the company had raised ₹268.64 crore through allotment of 2.27 crore shares to anchor investors at ₹118 per share. These investors included Nomura Asset, SBI Life, Nippon India Mutual, Sundaram Mutual, HDFC Life, HDFC MF, Aditya Birla Sun Life Mutual and Premji Invest among others.