Shriram Properties files draft papers with Sebi, plans to raise Rs 800 crore via IPO

Bengaluru-based Shriram Properties has filed a draft document with market regulator Sebi to raise up to Rs 800 crore through an initial public offer (IPO). According to sources, Shriram Properties filed the draft red herring prospectus (DRHP) on Friday.

As per DRHP, the company proposes to raise up to Rs 800 crore through IPO. Out of the total IPO size, it plans to raise Rs 250 crore through fresh issue of equity shares and Rs 550 crore through offer for sale.