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SHRIRAM PROPERTIES LIMITED INITIAL PUBLIC OFFERING TO OPEN ON DECEMBER 08, 2021


SHRIRAM PROPERTIES LIMITED INITIAL PUBLIC OFFERING TO OPEN ON DECEMBER 08, 2021

· Price Band fixed at Rs 113 to Rs 118 per equity share of face value of Rs. 10 each of Shriram Properties Limited (“Equity Shares”)


· Bid /Offer Opening Date – Wednesday, December 08, 2021 and Bid/ Offer Closing Date – Friday, December 10, 2021


· The Anchor date shall be Tuesday, December 07, 2021


Mumbai, December 06, 2021: Shriram Properties Limited (The “Company”) to open its Bid / Offer in relation to its initial public offering on Wednesday, December 08, 2021


The Price Band of the offer has been fixed at Rs. 113 to Rs. 118 per Equity Share. Bids can be made for a minimum of 125 equity shares and in multiples of 125 Equity Shares thereafter.


The Offer comprises of issuance of Equity Shares aggregating up to Rs. 600 crores (the “Offer”) and includes a fresh issue of Equity Shares aggregating upto Rs. 250 crores and an offer for sale aggregating upto Rs. 350 crores.


The offer of sale aggregates upto Rs. 90.95 crores by Omega TC Sabre Holdings Pte. Limited, upto Rs. 8.34 crores by Tata Capital Financial Services Limited, upto Rs. 92.21 crores by TPG Asia SF Pte. Ltd, upto Rs. 133.50 crores by WSI/WSQI V (XXXII) Mauritius Investors Limited (The “Investor Selling Shareholders”) and upto Rs. 25 crores by Other Selling Shareholders.


The offer includes a reservation aggregating up to Rs. 3.00 crores, for subscription by Eligible Employees (“Employee Reservation Portion”). The Eligible Employees are being Offered a discount of Rs. 11 per Equity Share.


The Offer is being made through the Book Building Process, in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended (“SCRR”) read with Regulation 31 of the SEBI ICDR Regulations and in compliance with Regulation 6(2) of the SEBI ICDR Regulations, wherein not less than 75% of the Net Offer shall be allocated on a proportionate basis to Qualified Institutional Buyers (“QIBs”) (“QIB Portion”), provided that the Company and the Investor Selling Shareholders may, in consultation with the BRLMs, allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis in accordance with the SEBI ICDR Regulations (“Anchor Investor Portion”), of which one-third shall be reserved for domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the Anchor Investor Allocation Price. In the event of under-subscription, or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the QIB Portion. Further, 5% of the Net QIB Portion (excluding the Anchor Investor Portion) shall be available for allocation on a proportionate basis only to Mutual Funds, and the remainder of the QIB Portion shall be available for allocation on a proportionate basis to all QIBs (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received at or above the Offer Price.


Further, not more than 15% of the Net Offer shall be available for allocation on a proportionate basis to Non-Institutional Investors and not more than 10% of the Net Offer shall be available for allocation to Retail Individual Bidders in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price. All potential Bidders (except Anchor Investors) are required to mandatorily utilise the Application Supported by Blocked Amount (“ASBA”) process by providing details of their respective ASBA accounts (including UPI ID in case of RIBs, if applicable) which will be blocked by the Self Certified Syndicate Banks (“SCSBs”) to the extent of their respective.


For details, see “Offer Information” beginning on page 378 of the Red Herring Prospectus.

The Equity Shares offered through Red Herring Prospectus are proposed to be listed on BSE and NSE.

Axis Capital Limited, ICICI Securities Limited and Nomura Financial Advisory and Securities (India) Private Limited are the Book Running Lead Managers

All capitalized terms not specifically defined herein shall have the meanings ascribed to such terms in the red herring prospectus dated December 1, 2021.


Disclaimer:


SHRIRAM PROPERTIES LIMITED is proposing, subject to applicable statutory and regulatory requirements, receipt of requisite approvals, market conditions and other considerations, to make an initial public offering of its Equity Shares and has filed the RHP with RoC on December 01, 2021. The RHP shall be available on the website of SEBI at www.sebi.gov.in, websites of the Stock Exchanges i.e. BSE and NSE at www.bseindia.com and www.nseindia.com, respectively and is available on the websites of the BRLMs i.e. Axis Capital Limited, ICICI Securities Limited, and Nomura Financial Advisory and Securities (India) Private Limited at www.axiscapital.co.in, www.icicisecurities.com and www.nomuraholdings.com/company/group/asia/india/index.html respectively. Bidders should note that investment in equity shares involves a high degree of risk and for details relating to the same, please see the section entitled “Risk Factors” on page 20 of the RHP. Potential Bidders should not rely on the DRHP for making any investment decision.

The Equity Shares offered in the Offer have not been and will not be registered under the U.S. Securities Act of 1933, as amended (“U.S. Securities Act”) or any state securities laws in the United States and, unless so registered, may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable state securities laws. Accordingly, such Equity Shares are being offered and sold outside of the United States in “offshore transactions” as defined in and in compliance with Regulation S under the U.S. Securities Act and the applicable laws of the jurisdiction where those offers and sales occur. There will be no offering of the Equity Shares in the United States. The Equity Shares have not been and will not be registered, listed or otherwise qualified in any other jurisdiction outside India and may not be offered or sold, and Bids may not be made by persons in any such jurisdiction, except in compliance with the applicable laws of such jurisdiction.

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