About the Company:
Shriram Properties Ltd is one of the leading residential real estate development companies in South India, primarily focused on the mid-market2 and affordable3, 6 housing categories.
Company is among the top five residential real estate companies in South India in terms of number of units launched between the calendar years 2012 and the third quarter of 2021 across Tier 1 cities of South India including Bengaluru, Chennai and Hyderabad.
Company is also present in the mid-market premium and luxury housing categories as well as commercial and office space categories.
Company commenced operations in Bengaluru in the year 2000 and have since expanded our presence to other cities in South India, i.e., Chennai, Coimbatore and Visakhapatnam.
In addition, company also has presence in Kolkata in East India, where company is developing a large mixed-use project.
Promoter group Company:
Shriram Properties Ltd is 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.
The relationship with the Shriram Group provides company with strong brand recall and that we benefit, and will continue to benefit, from the trust and confidence that homebuyers, lenders, financial investors, landowners, development partners, contractors and other stakeholders place in the Shriram brand and its operational history.
Focused on the mid-market and affordable housing categories:
Since inception, company been focusing on the mid-market and affordable housing categories as the target segment within the residential housing market. The mid-market and affordable housing categories have accounted for significant share of overall market absorption in India in recent years.
Completed Projects:
As of September 30, 2021,company has 29 Completed Projects, representing 16.76 million square feet of Saleable Area, out of which 24 Completed Projects in the cities of Bengaluru and Chennai accounted for 90.56% of Saleable Area.
Ongoing Projects:
Company has a total portfolio of 35 projects in Ongoing Projects, Projects under Development and Forthcoming Projects aggregating to 46.72 million square feet of estimated Saleable Area.
Company’s portfolio consists of 26 Ongoing Projects, five Projects under Development and four Forthcoming Projects, which account for 56.28%, 17.71% and 26.01% of our total estimated Saleable Area, respectively, as of September 30, 2021.
Further, across these projects, the mid-market category and affordable housing category accounted for an aggregate of 71.48% of total estimated Saleable Area.
Company’s Projects:
Company’s Projects Geography wise and Saleable Area:
Company’s Land Reserves.
As of September 30, 2021, company had Land Reserves of approximately 197.47 Acres, with a development potential of approximately 21.45 million square feet of estimated Saleable Area.
Management Team:
- Mr. M. Murali (Designation: Chairman and Managing Director)
- Mr. S. Natarajan (Designation: Non-Executive Director)
Objectives of the Issue:
Offer for Sale: (Rs. 350 cr)
- Company will not receive any proceeds from the Offer for Sale.Each of the Selling Shareholders will be entitled to their respective portion of the proceeds from the Offer for Sale in proportion of the Equity Shares offered by the respective Selling Shareholders.
Fresh Issue: (Rs.250 cr)
- Repayment and/ or pre-payment, in full or part, of certain borrowings availed by the Company and Subsidiaries Shriprop Structures, Global Entropolis and Bengal Shriram.
- General corporate purposes.
Positives for the Company:
Part of the Shriram Group and Backed by Marquee Investors.
- Company is 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. The group is funded by marquee global and domestic financial investors across several of its businesses.
One of the Leading Residential Real Estate Development Companies in South India with Focus on Mid-market and Affordable Housing Categories.
- Company is one of the leading residential real estate development companies in South India, primarily focused on the mid-market and affordable housing categories.
- Company is among the top five residential real estate companies in South India in terms of number of units launched between the calendar years 2012 and the third quarter of 2021 across Tier 1 cities of South India including Bengaluru, Chennai and Hyderabad.
Continued Focus on Key Cities in South India.
- Company intends to continue to focus on key cities in which we are present, such as Bengaluru and Chennai, where company has established a strong presence and developed in depth local knowledge and relationships.
- Company believes that metropolitan cities such as Bengaluru and Chennai, which are among the commercial and business hubs of India with a depth of demand for quality and affordable residential projects, provide with a significant opportunity to market company’s projects.
Financials of the Company:
| (in Crores) | FY 19 | FY 20 | FY 21 | 30th Sept 21 |
|---|---|---|---|---|
| Revenue | 723.7 | 631.8 | 501.3 | 155.1 |
| Net Profit | 48.7 | (-86.3) | (-68.1) | (-60.0) |
IPO Details:
| Details | Info |
|---|---|
| Issue Opens on | 8th December 2021 |
| Issue Closes on:. | 10th December 2021 |
| Issue Price | Rs.113 -118 |
| Face Value | Rs.10 |
| Retail Category Allocation | 10% |
| Minimum Lot | 125 Shares |
| Minimum Investment | Rs.14,750 |
| Issue Constitutes | 29.98% |
| Issue Size | Rs.600 cr ($ 80 million) |
| Market Cap | Rs.2000 cr ($ 266 million) |
| Listing at | NSE & BSE |
| Equity Shares Offered (Fresh) | 2,11,86,440 (Rs.250 cr) |
| Equity Shares Offered (OFS) | 2,96,61,017 (Rs. 350 cr) |
| Total Equity Shares Offered (Fresh + OFS) | 5,08,47,457 (Rs. 600 cr) |
| Equity Shares Prior to the Issue | 14,84,11,448 |
| Equity Shares after the Issue | 16,95,97,888 |
Also Read : List of Upcoming IPO’s in India.
Important Dates:
| Finalization of Basis of Allotment | on or Before 15th December 2021 |
| Initiation of Refunds | on or Before 16th December 2021 |
| Credit of Equity Shares: | on or Before 17th December 2021 |
| Listing Date: | on or Before 20th December 2021 |
Subscription Details:
| (Subscription-Category-Wise (no. of times) Till time : 06:00 PM) | Shares Offered | Day-1 | Day-2 | Day-3 |
|---|---|---|---|---|
| QIB | 1,58,49,559 | 0.00 | 0.13 | 1.93 |
| NII | 79,24,778 | 0.04 | 0.19 | 5.04 |
| Retail | 52,83,185 | 4.79 | 8.70 | 13.27 |
| Employee | 2,94,117 | 0.36 | 0.82 | 1.31 |
| TOTAL | 2,93,51,639 | 0.88 | 1.69 | 4.81 |
Note: Retail Subscription on the basis of Applications: 11.28x
IPO Valuation Parameters:
| Earnings Per Share (EPS) | Price To Earnings ratio (PE) | Return on Net Worth (RoNW) | Net Asset Value (NAV) |
|---|---|---|---|
| (-4.60) | N.A | N.A | 56.44 |
| Check IPO Allotment Status: |
|---|
KfinTech Website: http://kfintech/IPO/Allotment_StatusBSE IPO Website: https://www.bseindia.com/IPO/Allotment |
| Company Contact Info: |
|---|
| Shriram Properties Limited Lakshmi Neela Rite Choice Chamber New No. 9, Bazullah Road T. Nagar, Chennai 600 017 Tamil Nadu, India. Tel: +91 80 4022 9999 E-mail: cs.spl@shriramproperties.com Website: www.shriramproperties.com |
| IPO Registrar Info: |
|---|
| KFin Technologies Private Limited Selenium, Tower B, Plot No. – 31 and 32 Financial District Nanakramguda, Serilingampally Hyderabad, Rangareddi 500 032 Telangana, India Tel: +91 40 6716 2222 E-mail: murali.m@kfintech.com Website: www.kfintech.com |
