Bengaluru-based Shriram Properties has filed a draft document with market regulator Sebi to raise up to Rs 800 crore through an initial public offer (IPO).
According to sources, Shriram Properties filed the draft red herring prospectus (DRHP) on Friday.
As per DRHP, the company proposes to raise up to Rs 800 crore through IPO. Out of the total IPO size, it plans to raise Rs 250 crore through fresh issue of equity shares and Rs 550 crore through offer for sale.
Shriram Properties has proposed partial exits to its four existing investors — TPG Capital, Tata Capital, Walton Street Capital and Starwood Capital — which hold around 58 per cent stake in the company.