February 26, 2024


Specialists in home interior

Shriram Homes data files DRHP with Sebi to launch Rs 800 crore IPO, Serious Estate News, ET RealEstate

Shriram Properties files DRHP with Sebi to launch Rs 800 crore IPONEW DELHI: Shriram Properties has submitted its draft red herring prospectus (DRHP) with Securities & Exchange Board of India (SEBI) to raise up to Rs 800 crore through an preliminary general public provide (IPO).

The proposed IPO comprises equity shares of face value of Rs 10 every single of the company aggregating up to Rs 800 crore comprising of a clean difficulty aggregating up to Rs 250 crore and an provide for sale of up to Rs 550 crore.

Shriram Homes has proposed partial exits to its four current traders i.e. TPG Cash, Tata Funds, Walton Road Money and Starwood Capital, which keep close to 58 per cent stake in the firm.

The provide for sale comprises of Rs 147.1 crore by Omega TC Sabre Holdings, up to Rs 13 crore by Tata Cash Financial Services, up to Rs 148.9 crore by TPG Asia SF V, up to Rs 216 crore by WSI/WSQI V (XXXII) Mauritius Buyers and up to Rs 25 crore by the other marketing shareholders.

Axis Capital, ICICI Securities and Nomura Money Advisory and Securities (India) are the guide jogging direct supervisors to the issue.

The enterprise will not obtain any proceeds from the offer you for sale. It proposes to utilise the web proceeds from the clean issue in the direction of compensation and/ or pre-payment of debt and basic corporate functions.

This the second endeavor by the company to raise funds. It had deferred its IPO designs just after filing the DRHP in 2018 due to a sluggish household marketplace.

Shriram Attributes experienced elevated $270 million in between 2008 and 2014 from institutional traders.