Shriram Properties Ltd (SPL) filed its Draft Red Herring Prospectus (DRHP) with SEBI.
The Initial Public Offering (IPO) comprises of Shriram Properties Limited (“Company” or “Issuer”) comprising of a fresh issue aggregating up to Rs250cr (the “Fresh Issue”) and an offer for sale of up to 4.24cr equity shares comprising of up to 1.12cr equity shares by Omega TC Sabre Holdings Pte. Limited; up to 10.31 lakh equity shares by Tata Capital Financial Services Limited; up to 1.13cr equity shares by TPG Asia SF V Pte. Ltd.; up to 1.65cr equity shares by WSI/WSQI V (XXXII) Mauritius Investors Limited (collectively, the “Investor Selling Shareholders”) and up to 22.26 lakh equity shares by certain other selling shareholders. The offer includes a reservation for subscription by eligible employees i.e. the employee reservation portion.
Axis Capital Limited, Edelweiss Financial Services Limited, JM Financial Limited and Nomura Financial Advisory and Securities (India) Private Limited are the BRLMs to the offer.
The equity shares will be listed on BSE and NSE.
The Company and the Investor Selling Shareholders may, in consultation with the Book Running Lead Managers (BRLMs), consider a pre-offer placement of an aggregate amount not exceeding Rs100cr (Pre-IPO Placement).
The Company proposes to utilize the Net Proceeds raised through the Fresh Issue for the repayment and/or pre-payment, in full or part, of certain borrowings availed by SPL or certain subsidiaries and for general corporate purposes.