Shriram Properties Limited (the “Company”) will open its Bid/Offer for Initial Public Offering (IPO) on Wednesday, December 08, 2021.
The Price Band for the Offer has been fixed at ₹113 to ₹118 per Equity Share. Bids can be made for a minimum of 125 Equity Shares and in multiples of 125 Equity Shares thereafter.
The Offer comprises Equity Shares aggregating up to ₹600 crore, consisting of:
A Fresh Issue of Equity Shares aggregating up to ₹250 crore, and
An Offer for Sale aggregating up to ₹350 crore.
The Offer for Sale will include:
Up to ₹90.95 crore by Omega TC Sabre Holdings Pte. Limited
Up to ₹8.34 crore by Tata Capital Financial Services Limited
Up to ₹92.21 crore by TPG Asia SF Pte. Ltd
Up to ₹133.50 crore by WSI/WSQI V (XXXII) Mauritius Investors Limited (the “Investor Selling Shareholders”)
Up to ₹25 crore by Other Selling Shareholders
Additionally, the Offer includes a reservation aggregating up to ₹3.00 crore for subscription by Eligible Employees (“Employee Reservation Portion”). Eligible Employees will receive a discount of ₹11 per Equity Share.
The Offer is being made through the Book Building Process in compliance with SEBI ICDR Regulations, Rule 19(2)(b) of the SCRR, and Regulation 6(2) of the SEBI ICDR Regulations. Allocation structure is as follows:
Not less than 75% of the Net Offer will be allocated to Qualified Institutional Buyers (QIBs) on a proportionate basis.
The Company and Investor Selling Shareholders, in consultation with the BRLMs, may allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis, of which one-third shall be reserved for domestic mutual funds.
5% of the Net QIB Portion (excluding Anchor Investor Portion) will be available exclusively to Mutual Funds. The balance will be allocated to all QIBs (other than Anchor Investors), including Mutual Funds.
Not more than 15% of the Net Offer will be available for allocation to Non-Institutional Investors.
Not more than 10% of the Net Offer will be available for allocation to Retail Individual Bidders (RIBs).
All potential Bidders (other than Anchor Investors) are required to mandatorily utilize the Application Supported by Blocked Amount (ASBA) process by providing details of their respective ASBA accounts (including UPI ID for RIBs, if applicable). The amounts will be blocked by the Self Certified Syndicate Banks (SCSBs) to the extent of the respective Bid amounts.
The Equity Shares offered through the Red Herring Prospectus are proposed to be listed on both BSE and NSE.
Book Running Lead Managers (BRLMs):
Axis Capital Limited
ICICI Securities Limited
Nomura Financial Advisory and Securities (India) Private Limited
For further details, please refer to the section “Offer Information” beginning on page 378 of the Red Herring Prospectus dated December 1, 2021.
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