Shriram Properties has filed the draft red herring prospectus (DRHP) with market regulator SEBI to raise up to Rs 800 crore through an initial public offer (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.
Shriram Properties has proposed partial exits to its four existing investors --TPG Capital, Tata Capital, Walton Street Capital and Starwood Capital -- which hold around 58 per cent stake in the company. In offer for sale, each of the selling shareholders will be entitled to their respective portion of the proceeds from the offer for sale in proportion of the shares offered by them. The company will not receive any proceeds from the offer for sale.
Shriram Properties proposes to utilise the net proceeds from the fresh issue towards repayment and/ or pre-payment of debt and general corporate purposes. The company has a major presence in South India. It has completed various real estate projects and many projects are under construction.
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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