Shriram Properties IPO - A Play On Southern Realty Theme; Healthy Land Bank Value: Reliance Securities
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Reliance Securities' IPO Report
Shriram Properties Ltd. is a part of the Shriram Group, with a focus on the affordable housing segment. The company primarily focuses on the mid range-to-affordable markets.
Shriram Properties is among the top five residential real estate companies in South India, with projects across tier-I cities, including Bengaluru, Chennai and Hyderabad. The company started operations in Bengaluru in the year 2000 and has since expanded presence to other cities.
In addition, it operates in Kolkata in East India, where it is developing a large mixed-usage project. Bengaluru and Chennai are the two key markets for Shriram Properties, contributed ~29% of new launches in the country during the last decade.
Shriram Properties has proposed a partial exit plan to its four existing investors - TPG Capital, Tata Capital Ltd., Walton Street Capital and Starwood Capital - which hold a 58% stake in the company.
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