Shriram Properties may file IPO document this week to raise up to ₹800 cr
Shriram Properties plans to give partial exits to its four existing investors — TPG Capital, Tata Capital, Walton Street Capital and Starwood Capital — which hold around 58% stake in the company
NEW DELHI : Bengaluru-based Shriram Properties may file a draft document this week with market regulator Sebi for its proposed initial public offer (IPO) to raise up to ₹800 crore, according to sources.
The company plans to give partial exits to its four existing investors — TPG Capital, Tata Capital, Walton Street Capital and Starwood Capital — which hold around 58% stake in the company.
According to the sources, Shriram Properties is likely to file the draft red herring prospectus (DRHP) this week with the Sebi and expects to get the nod to launch its IPO next month.
The company plans to raise up to ₹800 crore through this public issue, they added.
Shriram Capital plans to reduce its debt from the proceeds of its proposed IPO.
A company spokesperson declined to comment.
The company has a major presence in South India. It has completed various real estate projects and many projects are under construction.
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