Shriram Properties Ltd
Complete IPO details, including price band, financials, subscription status, and key insights.
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IPO Snapshot
Key metrics and details at a glance.
Price Band
₹118
Per ShareLot Size
125 Shares
Minimum Investment
₹14,750
Issue Size
₹600 Cr
Face Value
₹10
Per ShareIPO Type
Book Building
Retail Quota
10%
QIB Quota
75%
NII Quota
15%
IPO Timeline
Important dates for your applying strategy.
Subscription Status
Live demand across investor categories.
Track real-time subscription levels:
*Real-time data subject to exchange updates
Shriram Properties Ltd
Business model, operations, and market positioning.
Promoter Holding (Pre-Issue)
31.98%
Promoter Holding (Post-Issue)
29.97%
Issue Type
Book Building
ISIN
INE217L01019
About the Company
Shriram Properties Limited is one of the leading residential real estate development companies in South India, primarily focused on the mid-market and affordable housing categories.
Industry Overview
The Company is among the top five residential real estate companies in South India in terms of number of units launched between the calendar years 2012 and the third quarter of 2021 across Tier 1 cities of South India including Bengaluru, Chennai and Hyderabad. It is also present in the mid-market premium and luxury housing categories as well as commercial and office space categories in its core markets.
Company History
Shriram Properties Limited was incorporated as Synectics Infoway Private Limited on March 28, 2000 at Chennai, Tamil Nadu as a private limited company under the Companies Act, 1956, and was granted the certificate of incorporation by the Registrar of Companies, Chennai, Tamil Nadu ("RoC"). Subsequently, the name of the Company was changed to Shriram Properties Private Limited pursuant to a special resolution passed by the Shareholders on March 17, 2003 and a fresh certificate of incorporation consequent upon change of name was granted by the RoC on March 28, 2003. The Company has converted from a private limited company to a public limited company and vice versa multiple times between April 1, 2003 and October 24, 2018. The name of the Company was changed to Shriram Properties Limited pursuant to a special resolution passed by the Shareholders on October 24, 2018 and a fresh certificate of incorporation consequent upon change of name was granted by the RoC on December 10, 2018
Products & Services
- 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.
Growth Strategy
- Continued Focus on Mid-Market and Affordable Housing Categories
- Continued Focus on Key Cities in South India
- Strengthen Presence in the Plotted Development Category
- Focus on its Asset Light Business Model, Primarily through Development Management
- Develop and Monetize its Project in Kolkata
- Build Scale, Consolidate Position and Enhance its Execution Capabilities to Capitalize on Industry Opportunity
- Continued Focus on Relationships with Financial Investors
- Initiatives taken by the company to overcome COVID-19 challenges
Financial Performance
Revenue, profit after tax and total assets across the last 3 reported financial years.
Revenue
Amount in ₹ crore
Profit After Tax (PAT)
Amount in ₹ crore
Total Assets
Amount in ₹ crore
Figures in ₹ crore, on a consolidated basis, as reported for FY23 to FY25.
Objects of the Issue
How the company plans to utilize IPO proceeds.
Use of Proceeds
The funds raised through this IPO will be used for:
Initial public offer of 50,873,592* equity shares of face value of Rs. 10 each ("Equity Shares") of Shriram Properties Limited ("Company" or "Issuer") for cash at a price of Rs. 118* per equity share (including a share premium of Rs. 108 per equity share) aggregating to Rs. 600.00 crores (The "Offer") comprising of a fresh issue of 21,212,576* equity shares aggregating to Rs. 250.00 crores (The "Fresh Issue") and an offer for sale of 29,661,016* equity shares aggregating to Rs. 350.00 crores comprising of 7,708,009* equity shares aggregating Rs. 90.95 crores by Omega TC Sabre Holdings Pte. Limited; 707,156* equity shares aggregating to Rs. 8.34 crores by Tata Capital Financial Services Limited; 7,814,083* equity shares aggregating to Rs. 92.20 crores by TPG Asia SF V Pte. Ltd.; 11,313,124* equity shares aggregating to Rs. 133.49 crores by WSI/WSQI V (XXXII) Mauritius Investors Limited (collectively, the "Investor Selling Shareholders") and 2,118,644* equity shares aggregating to Rs. 25.00 crores by the other selling shareholders (as defined hereunder) (the other selling shareholders collectively with the investor selling shareholders are referred to as the "Selling Shareholders" and such equity shares the "Offered Shares") ("Offer for Sale"). The offer constitutes 29.99% of the post-offer paid-up equity share capital of the company. The offer included a reservation of 280,373* equity shares, aggregating up Rs. 3.00 crores, for subscription by eligible employees (as defined herein) not exceeding 0.17% of the post-offer paid-up equity share capital ('Employee Reservation Portion"). The offer less the employee reservation portion is hereinafter referred to as the "Net Offer". The net offer constitutes 29.83%, of the post-offer paid-up equity share capital of the company. The face value of equity shares is Rs. 10 each. The offer price is 11.8 times the face value of the equity shares. *Subject to finalisation of the basis of allotment. #A discount of Rs. 11 per equity share was offered to eligible employees bidding in the employee reservation portion. Bids cans be made for a minimum of 125 equity and in multiple of 125 shares thereafter.
*Subject to approvals and market conditions.
Strengths & Risks
Key competitive advantages and factors to consider before investing.
- 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
- The company's business and profitability is significantly dependent on the performance of the real estate market in India, generally, and particularly in South India. Fluctuations in market conditions may affect its ability to sell its projects at expected prices, which may adversely affect its revenues and earnings.
- The extent to which COVID-19 disease may affect its business and operations in the future is uncertain and cannot be predicted.
- The company's real estate development activities are geographically concentrated in key cities in South India. Consequently, the company is exposed to risks from economic, regulatory and other changes as well as natural disasters in South India, which in turn may have an adverse effect on its business, results of operations, cash flows and financial condition.
- One of its independent Directors, K.G. Krishnamurthy is a director on the board of companies engaged in a line of business similar to that of the company. Any conflict of interest which may occur as a result could adversely affect its business, prospects, results of operations and financial condition.
- The company's has a significant amount of debt, which could affect its ability to obtain future financing or pursue its growth strategy.