Shriram Properties IPO Redeemed 5 Times As Soon As It Opens

Shriram Properties IPO redeemed 5 times as soon as it opens, MapmyIndia will knock tomorrow.

Shriram Properties IPO has raised Rs 268 crore from anchor investors ahead of its initial public offering (IPO).

The company’s IPO has been subscribed almost 5 times till 12 noon after opening on December 8.

According to the BSE circular, the company has decided to allot 2,27,66,949 equity shares to anchor investors at the rate of Rs 118 per share. This amount works out to Rs 268.64 crore.

Apart from this, the IPO of MapmyIndia will be launched in the market on 9 December. The company has fixed a price range of Rs 1,000-1,033 per share for the IPO.

Who are the anchor investors?

BNP Paribas Arbitrage, Societe Generale, SBI Life Insurance, HDFC Life Insurance Company, Sundaram Mutual Fund, Aditya Birla Sun Life MF, and HDFC MF acquired shares of the company as anchor investors.

Size of IPO.

The company has reduced its offer for sale from Rs 550 crore to Rs 350 crore. Thus the size of the IPO has now come down to Rs 600 crore from Rs 800 crore.

118 Shares.

Under the IPO, fresh shares worth Rs 250 crore will be issued and an offer for sale (OFS) of Rs 350 crore will be brought.

The price range for the IPO has been fixed at Rs 113 to Rs 118 per share. The IPO will close on December 10.

MapmyIndia IPO on 9th December.

Apart from this, digital mapping company MapmyIndia has fixed a price range of Rs 1,000-1,033 per share for its initial public offering (IPO) starting on December 9.

The company’s Rs 1,040 crore IPO will open on December 9 and close on December 13. However, the bidding process for anchor investors will be held on December 8.

Share offer.

In the IPO, the company will offer only 10,063,945 shares held by its promoters and existing shareholders.

Rashmi Verma holds 42.51 Lakh shares, Qualcomm Asia Pacific holds 27.01 Lakh shares and Zenrin Company holds 13.7 Lakh shares.

The remaining 17.41 lakh equity shares will be sold by other shareholders