Prime mover

M Murali, Managing Director, Shriram Properties has received an investment of Rs 468 crore from the private equity fund of Tata Capital, Tata Opportunities Fund. This investment is towards an undisclosed equity stake of the Shriram Group in Shriram Properties. This is the second such investment by the fund that has been executed outside the Tata Group. Murali has stated that the fund has been invited to nominate for appointment to the board of Shriram Properties. This also comes as a significant investment for him as he plans to enter into an initial public offering (IPO) in the near future. Looks like a well-timed move for Shriram Properties.