Real estate firm Shriram Properties which approached the Securities and Exchange Board of India (SEBI) in December 2018 to float an Initial Public Offering; has received a green signal to launch IPO through which it plans to raise Rs. 1,250 crore.
According to the latest update by SEBI, the firm obtained the regulator’s observations on April 9.
The equities will be listed on Bombay Stock Exchange and the National Stock Exchange and company is likely to host pre-IPO placement of up to Rs. 100 crore. The management of the company’s public issue will be in the hands of Axis Capital, Edelweiss Financial Services, Nomura Financial Advisory and Securities and JM Financial.
Shriram Properties, part of the Shriram Group, is a real estate development firm primarily focusing on developing residential properties in South India.