Shriram Properties IPO: Key Dates, Price, Listing 2021

Overview of the IPO

Shriram Properties Ltd., a Chennai-based real estate company, came to the primary market with a main-board IPO aggregating to about ₹600.04 crore. The issue comprised 5,08,73,592 equity shares of face value ₹10 each. The offer was book-built with a price band of ₹113 to ₹118 per share, with the upper price band set at ₹118. The IPO opened on December 8, 2021 and closed on December 10, 2021. Shares were proposed to be listed on both BSE and NSE. The IPO was offered across retail, non-institutional (HNI/NII), and qualified institutional buyer (QIB) categories, with an employee reservation also referenced in the subscription data. The issue attracted strong retail participation by the end of bidding, although the listing was below the issue price.

Issue size and offer structure

The total IPO size is stated as ₹600.00 crore (also cited as ₹600.04 crore in the share-based description). The fresh issue portion was ₹250 crore, and the offer for sale (OFS) was ₹350.00 crore. The “existing shares (qty)” figure is stated as 14.84 crore, alongside a market cap figure of ₹2,001 crore in the shared IPO summary. The IPO price referenced is ₹118, consistent with the upper end of the price band. The issue was described as a main-board IPO, indicating listing on the main exchanges rather than an SME platform. The company’s sector is described as real estate.

Key dates: opening, closing, allotment, and listing

The IPO opened on December 8, 2021 and closed on December 10, 2021. The allotment date was expected to be December 15, 2021 after the basis of allotment finalisation. The listing date is stated as Monday, December 20, 2021, with multiple references to the same date. The article also notes that the IPO was fully subscribed on the second day and was at 85% subscription on the first day, before ending with 4.60 times subscription by 5 p.m. on the final day.

Price band, lot size, and minimum investment

Shriram Properties IPO had a price band of ₹113 to ₹118 per share. The lot size was 125 shares, and applications were to be made in multiples of 125 shares. The minimum application amount for one lot (125 shares) was ₹14,750 at the ₹118 price point. Retail investors could apply for a maximum of 13 lots, or 1,625 shares, requiring ₹1,91,750 at the upper price band. These investment limits were presented as guidance for individual investors.

Retail application size in numbers

Anchor book allocation

Ahead of the IPO, Shriram Properties raised ₹268.64 crore from anchor investors, according to a BSE circular referenced in the text. A total of 2,27,66,949 shares were allotted to anchor investors at ₹118 per share. This anchor allocation figure is also described as “2,27,66,949 shares at a price of Rs 118 per share” in the article. The anchor allocation is presented as part of the overall issue process before the public bidding opened.

Subscription performance by investor category

As of December 10, 2021 at 17:00, the IPO was subscribed 4.6036 times (also rounded and repeated as 4.60 times). Retail individual investors showed the highest demand, with 12.7191 times subscription (also repeated as 12.72 times). Non-institutional investors were subscribed 4.822 times (also repeated as 4.8 times), while QIB subscription was 1.8514 times (also repeated as 1.85 times). The employee reservation portion was subscribed 1.2478 times (also repeated as 1.25 times). Another subscription snapshot in the text cites the overall subscription as 4.81 times, with QIB at 1.93 times, HNI at 5.04 times, retail at 13.27 times, and employee at 1.31 times, indicating multiple reported tallies.

Demand details and bid quantities

One data point states that the issue saw applications for 13,51,21,875 shares against an issue size of 2,93,51,639 shares. Another update notes that by the second day of bidding (December 9), the IPO saw 1.02 times subscription, with bids for 3.24 crore shares against an offer size of around 3 crore shares. The same second-day update said retail investors had subscribed 6.04 times their reserved portion at that stage. By the final day, the IPO ended with demand led by retail investors.

Grey market premium (GMP) trend and employee discount

The article includes a tentative GMP series that declined closer to the close of the issue. The latest tentative GMP is cited as ₹10, while earlier days show ₹20. The text also states that employees were entitled to a discount of ₹11. These figures are presented as market indicators and employee benefit details alongside the formal IPO terms.

Listing day performance and subsequent price references

The IPO is described as listing below the offer price of ₹118. One line states the stock “listed at a listing price of 99.40 against the offer price of 118.00.” Another listing-day summary provides trading levels and closes, stating that on BSE the day’s high was ₹106.35, low ₹91.75, and close ₹99.40, with a loss of ₹18.60 or 15.76% versus the IPO price. On NSE, the high was ₹106.40, low ₹90, and close ₹99.60, with a loss of ₹18.40 or 15.59%. A separate IPO summary also mentions “Listing price ₹90” and a date stamp of 2021-12-20, reflecting another reported listing reference in the provided text. The “current market price” is cited in two places as ₹90.31 and ₹86.20, indicating different snapshots within the compiled material.

Trading volumes and institutional activity cited

The combined traded volume on BSE and NSE is stated as 323.65 lakh shares. This is described as 0.64 times the IPO size of 508.73 lakh shares and 1.15 times the non-anchor portion of 281.06 lakh shares. Delivery volume is stated at 112.42 lakh shares, which is 34.73% of traded volume, 22.10% of issue size, and 40% of the non-anchor portion. The weighted average price is cited as ₹100.35 on BSE and ₹98.90 on NSE. The text also mentions one institutional or bulk trade on NSE, where Nomura bought 20 lakh shares at an average price of ₹95.53.

Company, registrar, and contact details in the notice

The company is listed as Shriram Properties Ltd., with an address at Lakshmi Neela Rite Choice Chamber, New No. 9, Bazullah Road, T. Nagar, Chennai, Tamil Nadu 600017. The phone number is stated as +91 44 4001 4410, and the website is provided as https://www.shriramproperties.com/. The registrar referenced is Kfin Technologies Ltd., with phone numbers 04067162222 and 04079611000, and the IPO status website https://ipostatus.kfintech.com/. The exchange symbols are noted as NSE: SHRIRAMPPS and BSE: 543419.

What stood out for investors

Across the reported figures, retail demand was consistently the strongest, reaching around 12.7 times subscription by the close on December 10, 2021. QIB demand was materially lower than retail, around 1.85 times in the main subscription table. Despite the overall 4.60 times subscription, listing day performance was below the issue price, with closes around ₹99.40 to ₹99.60 cited for the first session. The article’s trading data shows significant volumes but also notes that traded and delivery volumes were lower than expected, alongside commentary that the stock traded under pressure.

Conclusion

Shriram Properties’ ₹600 crore IPO, priced at ₹118 within a ₹113 to ₹118 band, closed on December 10, 2021 with total subscription reported at about 4.60 times and heavy retail participation. The allotment was expected on December 15, 2021, and the stock listed on December 20, 2021 on BSE and NSE. Reported listing-day prices and closes indicate a debut below the issue price, alongside detailed volume and delivery data from the first session. Investors tracking the issue also had GMP and anchor allocation data available ahead of listing, along with company and registrar contact details for reference.