Categories: Real Estate Hour

Shriram Properties will execute its IPO plans next year

Bengaluru based realty firm Shriram Properties had plans to target the market with Initial Public Offerings (IPO) this year, but according to the senior official of the land developer, they have to postpone their plans till next year in hope of market sentiments to get improved.
Shriram Properties is looking forward to raise its funds upto Rs 1,000 crore with the help of IPO, by mitigating 20 to 22% stakes of the firm. The realty firm is quite occupied with completing the formalities at the moment. It is also in the process of finalising the merchant banker for the same purpose. After all of it, Shriram Properties will hold the position among the pioneering editors to go public in half a decade. Oberoi Realty and Prestige Estate were the last realty experts to go public and that’s too in 2010.
Managing Director of Shriram Properties, M Murali told the concerned media authority, “We expect the upcoming budget to usher positive sentiments among consumers through tax sops and other incentives, which in turn will drive demand for housing units. We as an organisation are ready for the IPO but we will launch it at a time when general consumer sentiment improves.”
Meanwhile, the company is looking to scoop up around Rs 1,000 crore from private equity investors this year, almost the same amount it raised last year. “There is a lot of enthusiasm among PE community for real estate investment but end users seem to be staying away,” Murali said.
Recently, it sealed a deal with Motilal Oswal PE raising Rs 80 crore for its ongoing project Greenfield in Chennai. Also, in a rare entity level deal, it raised Rs 468 crore from Tata Opportunities Fund last year.
We are looking at raising funds only at special purpose vehicle level this year,” he said.
The Chennai-headquartered realtor Shriram Properties is a part of the Rs 90,000-crore Shriram Group and is present across Bangalore, Chennai, Coimbatore, Kolkata, Visakhapatnam and Hyderabad. It has over 50 million square feet under development.
Its financial partners include TPG, Walton Street Capital, Starwood Capital, ASK Real Estate, Prudential ICICI, Sun Apollo, Amplus Capital, TPG, Sun Apollo among others.

Recent Posts

Katchatheevu to Coco Islands, The Story of India’s Giveaways

The Katchatheevu island issue is back in the limelight after PM Modi mentioned it in…

2 months ago

Bengaluru’s Worsening Water Crisis Should be the Wake-Up Call for India and The World

Bengaluru is facing an acute shortage of 500 million litres of water every day, which…

2 months ago

The Aam Admi Party Conundrum: Will Kejriwal Run The Delhi Government From Prison?

Delhi's Chief Minister, Arvind Kejriwal, has been arrested by the Enforcement Directorate (ED) and will…

2 months ago

Planning to vote for Modi This Year? Wait! Give it a Read to Become an Informed Voter First

The Indian growth story has been famously dubbed the 'Amrit Kaal' by leaders and ministers…

2 months ago

Key Takeaways From Kovind Panel’s Report on One Nation One Election

The report highlights a two-step process in conducting nationwide simultaneous elections that needs many constitutional…

2 months ago

KWG Game: A Color Prediction Paradise for Indian Gamers

KWG Game has quickly become a hotspot for color prediction enthusiasts in India, offering a…

2 months ago