South Housing Real Estate Development Company Shriram Properties will launch an initial public offering (IPO) on December 8, 2021, with a plan to collect Hospital 600 Crore. The company will reveal price ribbons and lot size in the coming days.

The offer will be closed on December 10. This will be the second public problem to open next week, after travel technology rankings.

The IPO consists of a new shares issue worth Rs 250 Crore, and offers for sale of Rs 350 Crore by investors. Omega TC Saber Holdings Pte Ltd will burden the shares worth Rs 90.95 Crore, and Tata Capital Financial Services will sell shares worth 8.34 crore.

TPG Asia SF V Pte Ltd, and WSI / WSQI V (XXXII) Investors Mauritius will also sell shares worth Rs 92.21 Crore and Rs 133.5 Crore, while other sales shareholders will burden RS 25 Crore for sale.

The company will take advantage of fresh publishing money for debt payments, and general company needs.

Shriram’s property, part of the Shriram group, is among the five top housing real estate companies in South India in terms of the number of units launched between the 2012 calendar and the third quarter of 2021 throughout the southern city, including Bengaluru, Chennai and Hyderabad.

In September 2021, he had 29 projects that had been completed, representing 16.76 million square feet of the behavior area. In addition, it has a total portfolio of 35 projects in ongoing projects, projects in the development and projects that will come which are reduced to 46.72 million square feet of the estimated selling area.

On the front of the finance, he posted a loss of Rs 68.17 Crore in the financial year ending March 2021 against RS 86.39 Crore losses in the previous year. Revenue from operations decreased to RS 431.5 Crore from RS 571.96 Crore during the same period.

In the six-month period which ended September 30, 2021, he also posted a loss of Rs 60.03 Crore on Revenue Rs 118.17 Crore.

The promoter share ownership in the company reached 31.98 percent including 31.82 percent of shares held by ownership of Shriram Properties, while the remaining pegs were held by investors including WSI / WSQI, TPG Asia, Omega TC financial services and Tata.

Axis Capital, Icici Securities, and Nomura Financial Advisory and Securities (India) are books running the main manager for this problem.