 "Shriram Properties may file IPO this week to raise up to Rs 800 cr")
Bengaluru-based Shriram Properties may file a draft document this week with market regulator Sebi for its proposed initial public offer (IPO) to raise up to Rs 800 crore, according to sources.
The company plans to give 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.
According to the sources, Shriram Properties is likely to file the draft red herring prospectus (DRHP) this week with the Sebi and expects to get the nod to launch its IPO next month.
The company plans to raise up to Rs 800 crore through this public issue, they added.
Shriram Capital plans to reduce its debt from the proceeds of its proposed IPO.
A company spokesperson declined to comment.
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