Скачать или смотреть Shriram Properties to launch Rs 600 crore IPO next week

relieve stress Bengaluru | Mumbai: Realty developer Shriram Properties is planning to raise ₹600 crore from an initial public offering (IPO) next week. The IPO will include a fresh issue of shares worth ₹250 crore and an offer for sale (OFS) of up to ₹350 crore by the Bengaluru-based developer's existing shareholders and promoters. "The firm has boarded over 18 anchor investors, including FIIs and MFs from Singapore, US, India and Europe and will hit the market on December 8," people aware of the development said. In March, it filed a draft red herring prospectus ( DRHP) with the Securities and Exchange Board of India (Sebi) for a maiden share sale worth ₹800 crore. "The amount to be raised has been reduced as some of the existing investors want to hold their stakes and not looking at full exits," a person aware of its plans said. Walton Street Capital, TPG Asia and Omega TC Sabre Holdings are among the existing investors that are diluting their stakes. Axis Capital, ICICI Securities and Nomura Financial Advisory and Securities (India) are the book running lead managers for the issue. This the second attempt by the firm to raise capital. It had deferred its IPO plans after filing a DRHP in 2018 due to the sluggish residential property market.