Shriram Properties IPO day 1: 89% of issue subscribed; qualified institutional buyers yet to bid

Asia's Tech News Daily

Shriram Properties IPO day 1: 89% of issue subscribed; qualified institutional buyers yet to bid
© Provided by CNBCTV18

The initial public offering of residential realty developer Shriram Properties has been subscribed 89 percent on December 8, the first day of bidding. The offer has received bids for 2.6 crore equity shares against the IPO size of 2.93 crore equity shares.

Retail investors subscribed 4.85 times to the IPO, and non-institutional subscribers put in bids for 4 percent against their reserved portion. Qualified institutional buyers have not put in bids yet.

The price band for the offer, which closes on December 10 is Rs 113-118 apiece. Its shares are trading at a premium of Rs 20 in the grey market, according to data from IPO Watch.

Choice Brokerage has recommended subscribing to the IPO since the company is demanding a significant discount as compared to peers. The company is demanding a P/B multiple of 1.8 times, lesser than that of peers of 4.6 times.

Also Read | Shriram Properties IPO to open today: Key things to know

The company plans to use proceeds from the issue to repay or prepay in full or in part its own and subsidiaries’ borrowings. It is also looking for funds for general corporate purposes.

However, GCL Securities has said investors can apply for listing gains as the company is posting losses for the last two years and its revenue has declined significantly since 2019.

(As per subscription data available on exchanges till 14:57 pm) 

Stay tuned with LIVE stock market updates

Internet Explorer Channel Network
Asia's Tech News Daily
News Related

OTHER NEWS

Downing Street parties: Is a culture change in No 10 possible while Boris Johnson stays PM?

Prime Minister Boris Johnson may be the "driver of behaviour among his team" amid calls for a culture culture at Downing Street. Read more »

Dancing on Ice star Sean Rice dies aged 49

© Bang Showbiz Sean Rice has passed away ‘Dancing on Ice’ star Sean Rice has died at the age of 49. The figure skater – who starred on the ITV ... Read more »

Best Dubrovnik hotels for style, location and value for money

The world’s love affair with Dubrovnik shows no sign of slowing down. Croatia’s biggest tourist attraction has medieval and Renaissance walls, shiny marble streets of white stone houses and sprawling ... Read more »

Your Money: Five steps to spending wisely, investing smartly

© Provided by The Financial Express It additionally guarantees that you have a clear limit on your spending and assists you with keeping up with financial discipline. By Shams Tabrej ... Read more »

LEAP of faith: IFFCO moves lock, stock and barrel to Oracle Cloud

© Provided by The Financial Express “We have about 95 applications (across our five manufacturing plants) running on OCI. From day one, we are running our nano factory production applications ... Read more »

I'm a Disney expert and these are the best days of the week to visit the theme parks – and the days to avoid

DISNEY theme parks are extremely popular and can get very busy. But a Disney World expert has revealed which theme parks are the busiest on certain days of the week, ... Read more »

Boris Johnson enlists Royal Navy to stop Channel migrants as he launches ‘Operation Red Meat' in bid to stay in No10

EMBATTLED Boris Johnson is to enlist the Royal Navy to help combat migrant Channel crossings as he launches a policy blitz in a bid to cling on to his job. ... Read more »

By all the laws of political gravity, Boris Johnson is doomed

BY all the laws of political gravity, Boris is doomed – clinging by his fingertips until Dominic Cummings chooses to finish him off with hobnailed boots. Even a barrage of ... Read more »

Buyback offer: Should you accept the TCS buyback offer?

© Provided by The Financial Express The price is 16.7% higher compared to its last traded price (Rs 3,857) of the stock on the Bombay Stock Exchange when this buyback ... Read more »

BBC warns Nadine Dorries will plunge it into a ‘spiral of decline' by declaring end to licence fee

Nadine Dorries has declared an end to the BBC licence fee, prompting the corporation to accuse her of plunging the broadcaster into a “spiral of decline”. © Steve Parsons Nadine ... Read more »

US fans of All Creatures Great and Small give Yorkshire tourism a boost

American tourists are flocking to Yorkshire – after falling in love with warmhearted TV saga All Creatures Great and Small. More than 10 million viewers watched the first series Stateside, ... Read more »

Africa Cup of Nations holders Algeria on brink of group-stage exit after shock defeat to Equatorial Guinea

© AFP via Getty Images PRI218837873.jpg Reigning Africa Cup of Nations holders Algeria are staring at an unexpected early exit after losing 1-0 to Equatorial Guinea. It leaves Riyad Mahrez ... Read more »

Roberto Martinez is Everton's No.1 choice to replace Rafa Benitez as manager

Roberto Martinez is the No.1 choice among the Everton board to replace Rafa Benitez after his tumultuous six-month tenure at Goodison Park was brought to an end. Benitez, who fell ... Read more »

‘Could be the one' – Liverpool join heated Prem battle for €50m Mane replacement preferred to trio

Liverpool have identified RB Leipzig attacking midfielder Christopher Nkunku as the next man to evolve their forward line, according to a report. Finding new options in the final third has ... Read more »

Kate Longhurst's late goal for West Ham damages Tottenham's WSL title bid

© Provided by The Guardian Photograph: Alex Davidson/Getty Images The lifelong West Ham fan Kate Longhurst’s looping header deep into injury time rescued a point against Tottenham, denying their London ... Read more »

LOOK: Twitter reacts to Philadelphia's gameplan to not involve DeVonta Smith

© (AP Photo/Steve Luciano) Philadelphia Eagles wide receiver DeVonta Smith (6) in action during an NFL football game against the New York Giants, Sunday, Nov. 28, 2021, in East Rutherford, ... Read more »

Biker, cyclist killed in hit-and-run accidents in Mohali

© Provided by Hindustan Times The 26-year-old biker died on the spot after being run over by a truck in Balongi, Mohali. (Getty Images/iStockphoto) Hit-and-run accidents claimed two lives in ... Read more »

New No10 party revealed as Boris Johnson set to blame aides to save his job

As the heat grows on Boris Johnson over a string of No10 lockdown parties the cowardly PM looks set to shift the blame away from himself in a desperate bid ... Read more »

Australia news live update: Novak Djokovic leaves country; Morrison asked about double standard over anti-vax concerns; Tonga tsunami surveillance flight delayed

LIVE – Updated at 21:26 Follow all the day’s news.   21:26 Pacific Islands Forum statement on #Tonga: pic.twitter.com/RlallTHWgQ — Natalie Whiting (@Nat_Whiting) January 16, 2022   21:25 The deputy ... Read more »

PU: Shopkeepers continue protest over non-fulfilment of demands

© Provided by Hindustan Times This comes a day after the shopkeepers skipped an online meeting with PU authorities and instead insisted that a physical meeting be held. (HT File) The ... Read more »

Outpouring of grief as victims of Bronx fire laid to rest

A Bronx community has gathered to pay its last respects to loved ones a week after a fire filled a high-rise apartment building with thick, suffocating smoke that killed 17 ... Read more »

Soccer-Late Longhurst goal earns Hammers 1-1 draw with Spurs

© Reuters/PAUL CHILDS Women’s Super League – Tottenham Hotspur v West Ham United LONDON (Reuters) – Kate Longhurst scored deep into stoppage time to snatch a point for West Ham ... Read more »

UK foreign minister condemns Texas hostage-taking

© Andy JACOBSOHN A police vehicle sits outside of the Beth Israel Synagogue in Colleyville, Texas, where four people taken hostage were recovered safely after a 10-hour standoff Britain’s foreign ... Read more »

Dancing on Ice star Rachel Stevens says S Club 7 left her needing therapy

DANCING On Ice star Rachel Stevens has revealed she still has therapy to cope with her time in S Club 7. The 43-year-old singer said she “got very good at ... Read more »

Biden, Japan PM Kishida to hold bilateral talks on Friday-White House

© Reuters/Toru Hanai FILE PHOTO: National flags of Japan and the U.S. are seen in front of a monitor showing a graph of the Japanese yen’s exchange rate against the ... Read more »

Everton fans react to Roberto Martinez emerging as favourite for new manager job

Roberto Martinez has reportedly emerged as a shock contender to replace Rafa Benitez as Everton boss. The Belgium manager is currently favourite to make a remarkable return to the Blues, ... Read more »

Video of Lucknow vendor preparing ‘chowmein golgappa' goes viral

© Provided by The Indian Express Indians’ love for golgappa does not need any special mention. Over the years, vendors have experimented and come up many interesting fusion variants of ... Read more »

Covid snuffs out 8 lives in Chandigarh tricity; 1,831 positive in Mohali in new record

Covid-19 claimed eight lives in the tricity on Sunday, its highest-single day toll since June 2021, even as Mohali reported a record high of 1,831 cases. As many as five ... Read more »

NFL Playoff History Is Being Made This Weekend

© Provided by The Spun A general view of the Tampa Bay Buccaneers stadium. A number of NFL records were set or broken during the 2021 season. But this playoff ... Read more »

Sooners offer 2023 four star defensive back Makari Vickers out of Tallahassee, Florida

© Provided by Sooners Wire With a full staff completely in place and a whole offseason ahead of them, the Oklahoma Sooners have firmly landed on their feet and are ... Read more »

Troy Aikman Wishes He Was Calling Cowboys-Niners Instead

© Provided by The Big Lead Troy Aikman The first playoff game of the Sunday afternoon slate was not good at all as the Tampa Bay Buccaneers easily handled the ... Read more »

Warren Sapp Has Brutally Honest Admission On Mac Jones

© Provided by The Spun New England Patriots v Buffalo Bills New England Patriots quarterback Mac Jones had a strong rookie season overall, but his overall level of play dipped ... Read more »

Jerry Jones' Comment On Roger Goodell Is Going Viral

© Provided by The Spun Dallas Cowboys v Houston Texans There’s a special guest in attendance at Sunday afternoon’s Wild Card playoff game between the Dallas Cowboys and the San ... Read more »

Watch: Tampa Bay coach Bruce Arians smacks Bucs' Andrew Adams in helmet

© Kim Klement-USA TODAY Sports Bruce Arians seemed to have a momentary lapse of reason on Sunday. Tampa Bay Buccaneers coach Bruce Arians had a curious reaction to what one ... Read more »

Nick Lees: Edmonton Swiss Men's Choir President Hans Voegeli makes plans to gallop into the end of the pandemic

A hopeful sign Covid-19 driven by the highly infectious Omicron variant might be nearing its peak locally is learning Hans Voegeli is riding his horses again and yodelling his favourite ... Read more »

Tom Brady, Buccaneers dominate Eagles in convincing wild-card round win

Tom Brady still hasn’t lost a playoff game since leaving New England. The Tampa Bay Buccaneers blew out the Eagles, 31-15, in the NFC wild-card round on Saturday afternoon behind Brady’s 271 ... Read more »

Norway is changing its testing-isolation-tracing-quarantine strategy. Here are the details

On Thursday, the Norwegian government announced it would make changes to its TISK strategy (testing-isolation-tracing-quarantine). Transmission quarantine is being replaced with more self-testing, and people who receive a positive test ... Read more »

Jammu and Kashmir records 3,499 Covid cases, 6 deaths; highest infections in Srinagar

© Provided by Hindustan Times Paramilitary and Jammu and Kashmir police personnel stand guard near Ghanta Ghar (Clock Tower) in view of the weekend curfew imposed to curb the surge ... Read more »

Dancing on Ice audience boo judges as they score Bez 12.5 and compare him to Todd Carty

Dancing On Ice kicked off a new series on Sunday evening and welcomed back a live studio audience for the 2022 show. However, ITV bosses may have regretted the move ... Read more »

Editors Guild of India, Mumbai Press Club condemn ‘coup' at Kashmir Press Club

© Provided by Hindustan Times The Editors Guild of India and the Mumbai Press Club condemned what they said was the forcible takeover of the Kashmir Press Club by a ... Read more »
On free-english-test.com you will find lots of free English exam practice materials to help you improve your English skills: grammar, listening, reading, writing, ielts, toeic