Shriram Properties IPO
Shriram Properties Limited (SHRIRAMPPS) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 20 December 2021.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain -2.3% (likely range -14% to +14%), day's high +2.6%, chance of a gain 33%. Actual: -23.7% at the open, -9.8% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 1,58,49,559 | 2,93,44,500 | 1.85x | |
| NII (HNI) total | 79,24,778 | 3,82,13,250 | 4.82x | |
| Retail | 52,83,185 | 6,71,97,125 | 12.7x | |
| Employees | 2,94,117 | 3,67,000 | 1.25x | |
| Total | 2,93,51,639 | 13,51,21,875 | 4.60x |
Bids on NSE and BSE together, as published by NSE. Shares offered exclude the anchor portion. 38% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Shriram Properties's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Barbeque-Nation HospitalityMar 2021 | 5.11x | 3.10x | 13.1x | 5.98x | ₹453 Cr | -2.0% | +17.6% |
| Apex Frozen FoodsAug 2017 | 1.91x | 7.82x | 8.53x | 6.14x | ₹152 Cr | +15.4% | +21.2% |
| Security and Intelligence Services (India)Aug 2017 | 5.64x | 1.66x | 19.5x | 7.07x | ₹789 Cr | +8.0% | +8.0% |
| Bharat Road NetworkSep 2017 | 1.33x | 1.63x | 5.69x | 1.81x | ₹1,276 Cr | 0.0% | +6.8% |
| Craftsman AutomationMar 2021 | 5.21x | 2.84x | 3.43x | 3.81x | ₹824 Cr | -8.8% | 0.0% |
| Matrimony.comSep 2017 | 1.88x | 0.41x | 18.2x | 4.44x | ₹503 Cr | 0.0% | +4.0% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| Axis Capital | 107 | +20.4% | 73% |
| ICICI Securities | 109 | +21.3% | 69% |
| Nomura Financial Advisory and Securities (India) | 27 | +16.0% | 56% |
Offer documents (NSE)
Frequently asked
What is the Shriram Properties IPO price band and lot size? ₹113–118 per share, with a lot of 125 shares, so the smallest retail bid is ₹14,750.
How many times has it been subscribed? 4.60x overall: QIB 1.85x, NII 4.82x, retail 12.7x, employees 1.25x.
How did it list? It opened at ₹90.0, -23.7% against the issue price of ₹118, and closed its first day -15.6%.
