Shriram Properties IPO: The initial public offering (IPO) of Shriram Properties opened for subscription on Wednesday, December 8, 2021. The offer got 89 per cent subscribed by the end of the first day of bidding.
It received total bids for 2,60,79,375 shares across both the stock exchanges against 2,93,51,639 shares on offer, data from BSE showed. The Rs 600 crore Shriram Properties IPO will be available for subscription till Friday, December 10, 2021, and the price band of the company has been fixed at Rs 113-118 per share.
The IPO comprises fresh issuance of equity shares worth Rs 250 crore and an offer for sale (OFS) of Rs 350 crore. The company has reduced its OFS size to Rs 350 crore from Rs 550 crore earlier and thus, the IPO size has come down to Rs 600 crore against Rs 800 crore earlier.