Shriram Properties has debuted at Rs 94.00 on the BSE, down by 24 points or 20.34% from its issue price of Rs 118.
The scrip is currently trading at Rs 98.30, down by 19.70 points or 16.69% from its issue price. It has touched a high and low of Rs 101.50 and Rs 91.75 respectively. So far 5.65 lakh shares were traded on the counter.
The offering, which was open for subscription between December 8, 2021 and December 10, 2021, was subscribed 4.6 times. The issue price was fixed at Rs 118 per share i.e. at upper end of price band of Rs 113-118 apiece.
Shriram Properties is one of the leading residential real estate development companies in South India, primarily focused on the mid-market and affordable housing categories.