Shares of Shriram Properties will be listed on the exchange on December 20, 2021
The shares of real estate company Shriram Properties will list on the stock exchange tomorrow, December 20. They will be listed on both the National Stock Exchange (NSE) and the Bombay Stock Exchange ( BSE).
Counted among the top five residential property developers in south India, Shriram Properties’ initial public offering (IPO) was registered 4.6 times, with investors selling retail bid 12.7x, while the non-institutional and qualified institutional investor portions were registered 4.8x and 1.8x respectively.
The IPO was opened for registration on December 8 and ends on December 10, 2021. The company has issued a public tranche to raise Rs 600 crore from the primary market.
However, according to analysts, despite receiving many subscriptions, the company’s shares are trading at a peak of just around Rs 10 on the gray market.
With a handful of options available in the primary market, they argue, investors haven’t shown much excitement in Shriram Properties’ IPO.
The increase in omicron variant cases over the past few weeks and the probability of a possible third wave of Coronavirus-related cases, arriving in the country, are seen as the main reasons behind investors’ interest. for the company’s stock on the gray market. .
This could have an impact on Shriram Properties’s stock debut on Monday, December 20, 2021.
