New Delhi: Shriram Properties’ initial public offer (IPO) received an 89 per cent subscription on the first day of the offer on Wednesday (December 8). Investors can now check the latest subscription status and grey market premium (GMP) of Shriram Properties IPO.
Shriram Properties, a realty company, is the 57th company to roll out an Initial Public Offer (IPO) so far in the ongoing calendar year. On Tuesday (December 7), Shriram Properties had announced that it has raised a little over Rs 268 crore from anchor investors.
Shriram Properties IPO Subscription Status
While the IPO is yet to receive a full subscription, the Retail Individual Investors (RIIs) quota was subscribed 4.85 times. The data suggests a strong demand for Shriram Properties IPO among retail investors.
The RII category received 2,56,48,125 shares against 52,83,185 shares on offer as part of the IPO. On the other hand, the category for the non-institutional investors got 4 per cent subscriptions.
Moreover, the quota for employees was subscribed 36 per cent while that for qualified Institutional Buyers (QIBs) portion did not receive any bids on the first day.
Overall, investors placed bids for 2,60,79,375 shares against 2,93,51,639 shares on offer, according to the latest BSE data. The data translates into an 89 per cent subscription. Also Read: Train passengers rejoice! Now book trains with reduced fares from Dec 10, check trains list
Shriram Properties IPO Latest GMP
Shriram Properties current grey market premium stands at Rs 16. The estimated listing price is pegged at Rs 134, as of now. The price band for the offer is Rs 113-118 per share. This means that investors receiving shares on offer could enjoy a 13.56% listing gain. But that could change in the coming days, as the subscription increases. Also Read: Google India’s Year In Search 2021: IPL pips CoWIN portal to become top trending query