Last Updated on Dec 9, 2021 by Ayushi Mishra

Shriram Properties IPO received an overwhelming reaction from investors on the first day of the bidding process. Thanks to the retail investors who purchased 4.85x the allotted shares, Shriram Properties IPO subscribed at 89% on day 1 of the issue. 

More than 2.56 cr. shares were acquired by retail investors, which is more than four times the allocated 52.83 lakh shares. 

Shriram Properties said on Tuesday that it has secured a little more than Rs. 268 cr. from anchor investors ahead of its inaugural share sale. According to a BSE circular, the business chose to distribute 2,27,66,949 equity shares to anchor investors at Rs. 118 each, valuing the transaction at Rs. 268.64 cr. 

Among the anchor investors are BNP Paribas Arbitrage, Societe Generale, SBI Life Insurance Co. Ltd., HDFC Life Insurance Company, Sundaram Mutual Fund (MF), Aditya Birla Sun Life MF, and HDFC MF.

Ayushi Mishra