in

Shriram Properties initial share sale gets subscribed 1.63 times on second day, Real Estate News, ET RealEstate

Shriram Properties initial share sale gets subscribed 1.63 times on second day, Real Estate News, ET RealEstate
NEW DELHI: The initial share sale of Shriram Properties got subscribed 1.63 times on the second day of the offer on Thursday. Fresh issuance of equity shares worth Rs 250 crore and an offer for sale of Rs 350 crore make up the Initial Public Offer (IPO).

For 2,93,51,639 shares on sale, bids to the tune of 4,77,23,750 were received on the second day. This translates to the offer getting subscribed 1.63 times, according to data available with the BSE.

The category for Retail Individual Investors (RIIs) attracted 8.35 times subscription. There are 52,83,185 shares for sale and the bids received stood at 4,41,22,375.

As per the data, the quota for Qualified Institutional Buyers (QIBs) was subscribed 12 per cent and that for employees fetched 78 per cent subscription.

The subscription was at 18 per cent for the portion of non-institutional investors.

The company raised little over Rs 268 crore from anchor investors on Tuesday. The price band for the offer is Rs 113-118 per share.

The net proceeds from the issue will be used towards repayment and/ or pre-payment of debt and general corporate purposes.


What do you think?

Presented by Realty Beat

Comments

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Loading…

0
Now, realtors will have to give 5% land to government in new layouts, Real Estate News, ET RealEstate

Now, realtors will have to give 5% land to government in new layouts, Real Estate News, ET RealEstate

Jaypee Wish Town residents protest upkeep fees hike, Real Estate News, ET RealEstate

Jaypee Wish Town residents protest upkeep fees hike, Real Estate News, ET RealEstate