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Home / Markets / Stock Markets /  Shriram Properties IPO: GMP, price, other details. Should you apply?
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Shriram Properties IPO is opening for subscription on 8th December 2021 and it will remain open for bidding till 10th December 2021. The Shriram Group company aims to raise 600 crore from this public issue reserving 250 crore from fresh issue and 350 crore from OFS (Offer for Sale). The price band of the IPO has been fixed at 113 to 118 and grey market has started to give positive signal in regard to this public offer. As per the market observers, shares of Shriram Properties are available at a premium off 20 in the grey market today.

We list out important details in regard to Shriram Properties IPO:

- Shriram Properties IPO GMP: According to market observers, Shriram Properties share price has made its debut in the grey market today at a premium of 20 that means grey market is expecting this IPO to list at around 138 ( 118 + 20), which is around 17 per cent higher from its upper price band of 118 per equity share.

- Shriram Properties IPO subscription date: The public issue will open on 8th December 2021 and will remain open for bidders till 10th December 2021.

- Shriram Properties IPO price band: Company has fixed price band of the public issue at 113 to 118 per equity share.

- Shriram Properties IPO size: The Shriram Group company aims to raise 600 crore from this IPO. It aims to raise 250 crore via fresh issue whereas rest 350 is reserved via OFS.

- Shriram Properties IPO lot size: A bidder will be able to apply in lots and one lot of the IPO will comprise 125 Shriram Properties shares. A bidder is allowed to bid for maximum 13 Shriram Properties IPO lots.

- Shriram Properties IPO investment limit: As a bidder can apply for minimum one lot and maximum 13 lots. One bidder will be able to invest minimum 14,750 ( 118 x 125) whereas maximum investment allowed in the IPO is 1,91,750 [( 118 x 125) X 13].

- Shriram Properties IPO allotment date: Announcement of share allotment is likely on 15th December 2021. Initiation of refund is likely on 16th December 2021 whereas credit of shares in Demat Account of the lucky bidders is expected on 17th December 2021.

- Shriram Properties IPO listing: Shares of the company will be listed on both NSE and BSE and the expected Shriram Properties IPO listing date is 20th December 2021.

- Shriram Properties IPO subscribe or not: Speaking on Shriram Properties IPO; Abhay Doshi, Founder at UnlisteArena.com said, "Primary market will continue to remain busy as cluster of IPOs are all set to open for subscription including a south based real estate player Shriram Properties. The company mainly focuses in key cities of south i.e. Chennai and Bengaluru targeting mid-market and affordable housing categories. On the operational front, revenues have been on a downward trajectory and the company posted losses from last two years. The issue is priced over 2x to its book value. The pricing looks on moderate side but low promoters holding, losses and correction in broader indices may make hit investors' sentiment."

Advising investors to apply with long-term view; Ravi Singhal, Vice Chairman at GCL Securities said, "Company is posting losses from last two years and its revenue reduced significantly since 2019 level. These losses may extend further this year looking at omicron scenario. This company is part of reputed Shriram Group, but that only cannot be the only point to apply this IPO. Clearly investors cannot apply this apply this IPO for listing gain; one may apply for long-term holding based on their risk appetite."

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.

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