Shriram Properties Ltd IPO: Shriram Group looks to raise Rs 1,000 from an initial public offering (IPO) - IPO Reviews

Friday, April 13, 2018

Shriram Properties Ltd IPO: Shriram Group looks to raise Rs 1,000 from an initial public offering (IPO)

Shriram Properties Ltd IPO: Shriram Group looks to raise Rs 1,000 from an initial public offering (IPO) Shriram Properties Pvt Ltd, part of Rs 90,000 crore Financial Giant, Shriram Group, is planning to raise Rs 1,000 crores with an IPO that is expected to take off FY19. The company is planning to enter the low-cost housing segment, with home prices starting as low as Rs 15 lakh and go up to 25 lakh. Shriram Properties had a good 2017-18 and is planning to put houses in order and preparing for even good 2018-19.  During 2017-18, Shriram Properties sold 1204 houses in Bengaluru and 555 homes in Chennai at the time when other players struggled. The company has a pipeline of several projects of 6-7 million sq. ft across cities in the Rs 15-25 lakh segment. 

The investors of Shriram Properties at the company level include Walton Street Capital LLC, Starwood Capital Group, Tata Capital Ltd and TPG Capital. These investors might shed their shares for the IPO and could exit the company. 

Another Mumbai based real estate company, Lodha Group is planning for an IPO before Shriram Properties. If the company fares well in the process, it will act as a booster dose for Shriram Properties to go ahead. 

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