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Shriram Properties Limited IPO – Allotment Status, Subscription, GMP & DRHP

Shriram Properties Limited is one of the leading residential real estate development companies in South India, primarily focused on the mid-market1 and affordable2 housing categories. The Company is among the five largest residential real estate companies in South India, including specifically in Bengaluru and Chennai, in terms of number of aggregate units launched in the calendar years 2012 to 2017 and the six months ended June 30, 2018

Let’s have a detailed review of the company and analytics of the Shriram Properties Limited IPO release date, IPO offer price, subscription, Shriram Properties Limited IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.


Shriram Properties Limited IPO Review & Ratings

IPO Ratings & Review
CriteriaRatings
Industry Sentiments8.5/10
Industry Ranking7.8/10
Company Background7.9/10
Company Reputation7.9/10
Competitive Edge7.7/10
Financial Statements7.8/10
Popularity Index8.4/10
Promoters Reputation7.7/10
Retail Appetite7.9/10
Top Brokers Review7.9/10
Overall Ratings8.1/10
Star Ratings★★★★☆

Summary of Shriram Properties Limited IPO

Shriram Properties Limited  is a part of the Shriram Group, which is a prominent business group with four decades of operating history in India and a well-recognized brand in the retail financial services sector and several other industries. It has Initial public offer of up to [●] Equity Shares of Rs. 10 each . 

From FY 2013-14 to FY 2016-2017, as per the Restated Financial Statements,

  • The EBITDA and  company in Financial Year 2017- 18 was 3,184.20 and 85.76 as compared to 3,492.64  and (68.08) in Financial Year 2018-17.
  • The Net Asset Value per Equity Share as at September 30, 2018, March 31, 2018 and March 31, 2017 6 was 33,174.21 31,738.56 and 25,311.99 respectively.
  • Our Net Profit as per Standalone Restated Financial Statement as at September 30,2018, March 31, 2018, March 31, 2017 and March 31, 2016 was Rs. 437.84 Millions, Rs.  3,492.64 Millions, Rs.(68.08) Millions and  Rs. (5,000.10) Millions respectively.

The Promoters of this company are  M. Murali, Shriram Properties Holdings Private Limited and Shriram Group Executives Welfare Trust. The lead manager to the issue is  Axis, Edelweiss, JM Financial and Nomura and the Registrar to this issue is  Karvy Fintech Private Limited.


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Shriram Properties Limited IPO Date

The opening and the closing date of Shriram Properties Limited IPO is not known yet.


Shriram Properties Limited IPO Subscription

Day / DateQIBNIIRIITotal Subscription
Day 1 
Day 2
Day 3
Day 4
Day 5
Shares Offered or Net Issue

The shares subscribed by the public will be updated herein on a daily basis, once the IPO is open for subscription.


Shriram Properties Limited IPO Allotment Status

Here, you can find the Allotment Status of this IPO.


Shriram Properties Limited IPO Price Band

The face value of each share is Rs 10, but the price band of the IPO is not yet disclosed. 


Shriram Properties Limited IPO Equity Share Offering

Initial public offer of up to 26,00,000 Equity Shares of Rs. 10 each, at an Offer Price of Rs. [●] per Equity Share.


Shriram Properties Limited – Company Overview

Shriram Properties Limited are one of the leading residential real estate development companies in South India, primarily focused on the mid-market1 and affordable2 housing categories. We are among the five largest residential real estate companies in South India, including specifically in Bengaluru and Chennai, in terms of number of aggregate units launched in the calendar years 2012 to 2017 and the six months ended June 30, 2018 . Th Company are also present in the mid-market premium3 and luxury4 housing categories, commercial and office space category as well as plotted development category.

The Company is promoted by  M. Murali, Shriram Properties Holdings Private Limited and Shriram Group Executives Welfare Trust and each of their promoters are having good industrial exposure.

Competitive Strengths of Shriram Properties Limited:

  • Continued Focus on Mid-Market and Affordable Housing Categories
  • Continued Focus on Key Cities in South India
  • Focus on our Asset Light Business Model, Primarily through Development Management
  • Develop and Monetize our Project in Kolkata
  • Build Scale, Consolidate Position and Enhance our Execution Capabilities to Capitalise on Industry Opportunity
  • Continued Focus on Relationships with Financial Investors Including Additional Platform Arrangements

Business strategies of Shriram Properties Limited:

  • Continued Focus on Mid-Market and Affordable Housing Categories
  • Continued Focus on Key Cities in South India
  • Focus on our Asset Light Business Model, Primarily through Development Management
  • Develop and Monetize our Project in Kolkata

Shriram Properties Limited – Financial Statements

A quick look into the past financial performance of the company to understand its performance of business and evaluate the growth prospectus:

Financial Summary:

On the basis of Standalone statement:-

Amount (in INR & Millions)
30-Sept-1831-Mar-1831-Mar-1731-Mar-16
Total Assets33,174.2131,738.5625,311.99 26,451.14
Total Revenue3,125.164,201.073,533.085,746.92
Total Expense3,313.674,494.055,158.9410,511.82
Profit After Tax437.843,492.64(68.08)(5,000.10)

Earnings per Equity Share (in INR Million)

30-Sept-1831-Mar-1831-Mar-17
Basic & Diluted2.9723.570.19

From the above statements, one could find that the Shriram Properties Limited may perform well.


Shriram Properties Limited IPO – Promoters

The Promoters of this company are:

  • M. Murali, Shriram Properties Holdings Private Limited
  • Shriram Group Executives Welfare Trust

Interest in promotion of the Company

Company is currently promoted by the Promoters in order to carry on its present business. Promoters are interested in the Company to the extent of their shareholding and directorship of the Individual Promoter in the Company and the dividend declared, if any, by the Company. The Promoters are interested in the transactions entered into the Company and the Promoter Group.

Property Interest

The promoters along with the promoter group will continue to hold collectively some percentage of the equity share capital of the company. As a result of the same, they will be able to exercise significant influence over the control of the outcome of the matter that requires approval of the majority shareholders vote.

Interest in Intellectual Rights of the Company

Promoters has not shown any interest in acquiring the intellectual rights of the company.


Shriram Properties Limited IPO Offer Details or Issue Details

Particulars No. Of Equity Shares
 Equity Shares Offered Up to  Equity Shares, aggregating up to Rs.[●] million
 Of which:
Fresh IssueUp to [●] Equity Shares, aggregating up to Rs.2,500 million
Offer for saleUp to 42,403,271 Equity Shares, aggregating up to Rs.[●] million
 Of which:
QIB PortionNot less than [●] Equity Shares
Of which
Available for allocation to Mutual Funds only (5% of the QIB portion) (Excluding the Anchor Investor Portion)Up to [●] Equity Shares 
Balance for all QIBs including Mutual Funds[●] Equity Shares
 Retail Investors Portion Not more than [●] Equity Shares
 Non-Retail Investors PortionNot more than [●] Equity Shares
 Equity Shares outstanding prior to the Issue148,411,448 Equity Shares
 Equity Shares outstanding after the Issue[●] Equity Shares

Shriram Properties Limited IPO Issue Object

These are the IPO Issue Objects of the company

  • Repayment and/ or pre-payment, in full or part, of certain borrowings availed by our Company, our Subsidiaries, Shriprop Structures, Global Entropolis and Bengal Shriram; and
  • General corporate purposes, subject to applicable laws

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Shriram Properties Limited IPO – Basis of the Offer Price

The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.

Qualitative factors are:

  • Part of the Shriram Group and Backed by Marquee Investors
  • One of the Leading Residential Real Estate Development Companies in South India with Focus on Mid-market and Affordable Housing Categories
  • Demonstrated Capabilities in Project Identification and Strong Execution Track Record
  • Established Strategic Relationships
  • Scalable and Asset Light Business Model supported by our Strong Financial Position
  • Well Positioned to Benefit from Regulatory and Industry Developments
  • Experienced and Professional Management Team

The relevant quantitative factors are:

Basic & Diluted EPSRONW (%)NAV (Rs.)
31-Mar-16-33.6966.59
31-Mar-170.190.45
31-Mar-1823.5735.93
  • Competitive Peers:
Sr. No. ParticularsFace Value  (in Rs.)Basic EPS (In Rs.)P/E RatioRONW in %
1Sobha Limited1022.6822.407.83
2Prestige Estates Projects Limited109.9029.108.97
3Brigade Enterprises Limited1010.4023.585.81
4Godrej Properties Limited510.8666.8410.49
5Oberoi Realty Limited1013.5137.647.53
6Sunteck Realty Limited116.7425.308.52

 


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Shriram Properties Limited IPO Lead Managers

Lead Managers
Axis Capital Limited

Edelweiss Financial Services Limited

JM Financial Limited

Nomura Financial Advisory and Securities (India) Private Limited

Shriram Properties Limited IPO Registrar to offer

Registrar to the Offer
Karvy Fintech Private Limited#
Karvy Selenium, Tower B
Plot No. 31 & 32, Financial District
Nanakramguda, Serilingampally, Hyderabad
Rangareddi-500 032, Telangana, India
Tel: +91 40 6716 2222
E-mail:
Investor grievance e-mail:

Website: www.karvyfintech.com
Contact Person: M. Murali Krishna

Other Details:

  • Statutory Auditor – Walker Chandiok & Co LLP
  • Bankers to the Company – HDFC Bank Limited, RBL Bank Limited  ,Syndicate Bank

Shriram Properties Limited IPO Review by Top 10 Stock Brokers

Top Stock Brokers ReviewCompany ReputationCompetitive EdgeFinancial StatementPopularity IndexPromoters Reputation
Angel Broking7.5/107.4/108.5/108.1/107.1/10
Sharekhan7.2/107.1/108.6/108.1/107.2/10
Kotak Securities7.3/107.5/108.4/108.1/107.3/10
ICICI Direct7.3/107.3/108.7/108.1/107.1/10
IIFL7.5/107.2/108.8/108.0/107.1/10
Edelweiss7.5/107.4/108.4/108.3/107.2/10
Zerodha7.4/107.1/108.5/108.1/107.0/10
5Paisa7.1/107.1/108.4/108.1/107.1/10
Karvy7.4/107.3/108.2/108.1/107.1/10
Motilal Oswal7.1/107.1/108.6/108.3/107.2/10

Shriram Properties Limited IPO Grey Market Premium

The Shriram Properties Limited IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is X. 


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Shriram Properties Limited IPO News

News 1 – IPO ISSUE OPENS SOON [Download Prospectus]


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