Shriram Properties lays foundation for IPO

By Rashmi Kumar
13 Apr 2021

Shriram Properties is gunning for an IPO of about Rp8bn ($117.3m) in India. The company announced its plans as fellow real estate company Macrotech Developers sealed its deal at the top of the price range.

Shriram filed its initial IPO documents with the Securities and Exchange Board of India on April 9. Its deal will comprise a primary share sale worth up to Rp2.5bn and an offer-for-sale of secondary stock worth up to Rp5.5bn being offered by a handful of existing shareholders.

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