SEBI allows Shriram Properties to raise funds through IPO
Real Estate

SEBI allows Shriram Properties to raise funds through IPO

Clean Science and Technology, Shriram Properties, and GR Infraprojects have all received approval from the Securities and Exchange Board of India (SEBI) to raise funds through initial public offerings (IPOs).

In April, the three companies filed preliminary papers with the Securities and Exchange Board of India (SEBI).

According to a SEBI update, Clean Science and Technology, Shriram Properties, and GR Infraprojects received SEBI's observations on June 12, June 15, and June 16, respectively.

For any company planning an initial public offering (IPO), follow-on public offering (FPO), or rights issue, SEBI's observation is required.

Clean Science and Technology, a speciality chemical company, is planning an initial public offering (IPO) to raise Rs 1,400 crore.

According to the draft red herring prospectus, the IPO is entirely an offer for sale (OFS) by existing promoters and other shareholders.

Functionally critical specialty chemicals, such as performance chemicals, pharmaceutical intermediates, and FMCG chemicals, are manufactured by Clean Science Technology.

Customers use its products as key starting materials, inhibitors, or additives in their products.

Shriram Properties, based in Bengaluru, intends to raise Rs 800 crore through an initial public offering (IPO).

Of the total IPO size, the company plans to raise Rs 250 crore through a new issue of equity shares and Rs 550 crore via an offer for sale.

TPG Capital, Tata Capital, Walton Street Capital, and Starwood Capital, which own a combined 58 % of Shriram Properties, have proposed partial exits.

Each of the selling shareholders will be entitled to a portion of the proceeds from the offer for sale in proportion to the shares they offered in the offer for sale. The company will not receive any proceeds from the sale of the company.

Shriram Properties intends to use the net proceeds from the new issue to repay and or prepay debt, as well as for general corporate purposes.

GR Infraprojects, based in Udaipur, is a leading integrated road engineering, procurement, and construction (EPC) company with experience designing and constructing road and highway projects in 15 Indian states. It has recently expanded into railway-related projects.

These companies' equity shares are expected to be listed on the BSE and NSE.

Image Source


Also read: Adani plans to launch IPO of its airport business

Also read: Penna Cement files DRHP with SEBI for Rs 1,550 cr IPO

Clean Science and Technology, Shriram Properties, and GR Infraprojects have all received approval from the Securities and Exchange Board of India (SEBI) to raise funds through initial public offerings (IPOs). In April, the three companies filed preliminary papers with the Securities and Exchange Board of India (SEBI). According to a SEBI update, Clean Science and Technology, Shriram Properties, and GR Infraprojects received SEBI's observations on June 12, June 15, and June 16, respectively. For any company planning an initial public offering (IPO), follow-on public offering (FPO), or rights issue, SEBI's observation is required. Clean Science and Technology, a speciality chemical company, is planning an initial public offering (IPO) to raise Rs 1,400 crore. According to the draft red herring prospectus, the IPO is entirely an offer for sale (OFS) by existing promoters and other shareholders. Functionally critical specialty chemicals, such as performance chemicals, pharmaceutical intermediates, and FMCG chemicals, are manufactured by Clean Science Technology. Customers use its products as key starting materials, inhibitors, or additives in their products. Shriram Properties, based in Bengaluru, intends to raise Rs 800 crore through an initial public offering (IPO). Of the total IPO size, the company plans to raise Rs 250 crore through a new issue of equity shares and Rs 550 crore via an offer for sale. TPG Capital, Tata Capital, Walton Street Capital, and Starwood Capital, which own a combined 58 % of Shriram Properties, have proposed partial exits. Each of the selling shareholders will be entitled to a portion of the proceeds from the offer for sale in proportion to the shares they offered in the offer for sale. The company will not receive any proceeds from the sale of the company. Shriram Properties intends to use the net proceeds from the new issue to repay and or prepay debt, as well as for general corporate purposes. GR Infraprojects, based in Udaipur, is a leading integrated road engineering, procurement, and construction (EPC) company with experience designing and constructing road and highway projects in 15 Indian states. It has recently expanded into railway-related projects. These companies' equity shares are expected to be listed on the BSE and NSE. Image Source Also read: Adani plans to launch IPO of its airport business Also read: Penna Cement files DRHP with SEBI for Rs 1,550 cr IPO

Next Story
Infrastructure Transport

Railways To Add 2,000 Trains, End Waiting Lists

Indian Railways will introduce about 2,000 extra trains a day over the next four years, lifting the daily total to nearly 13,000 services and aiming to provide every traveller with a confirmed berth. According to a senior Railway Ministry official, the enlarged timetable should raise annual passenger capacity from roughly 8 billion to 10 billion and wipe out the 50 million-strong waiting-list that recurs each year.The plan calls for 450 Vande Bharat sets, 200 push-pull formations and a mix of new Mail and Express services. Capacity freed by the Dedicated Freight Corridor, plus continuous track..

Next Story
Infrastructure Transport

Six Ahmedabad Trains Rerouted For 70-Day Station Upgrade

Western Railway will divert six long-distance services from Ahmedabad’s Kalupur station for 70 days while the hub undergoes major redevelopment. From 5 July until 12 September 2025, the following changes will apply:The 12932 Ahmedabad–Mumbai Central AC Double Decker will start from Maninagar at 05.50, the 12655 Ahmedabad–Chennai Navjivan Express will leave Asarva at 21.05, and the 19034 Ahmedabad–Valsad Gujarat Queen will depart Maninagar at 18.20.Arriving trains will also finish elsewhere: the Mumbai Central–Ahmedabad AC Double Decker will terminate at Vatva at 21.20, the Chennai–..

Next Story
Infrastructure Energy

LTTS Wins USD 50 Million Five-Year Sustainability Deal

L&T Technology Services (LTTS), the listed engineering arm of Larsen & Toubro, has secured a five-year framework agreement worth more than USD 50 million to serve as the exclusive global engineering partner for the Sustainability division of one of the world’s leading energy companies.Under the pact LTTS will deliver enterprise data and digital services, encompassing advanced power-management solutions, next-generation cooling, and scalable rack architectures designed to optimise the client’s worldwide network of AI-enabled, low-carbon “energy factories”.Chief Executive and Man..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?