Bangalore-based Shriram Properties is planning to go public in 2010. The company is also planning to acquire assets of real estate, construction and infrastructure companies. This apart, it is looking at investing Rs 500-600 crore for its proposed acquisition and Rs 900 crore in various projects over the next 18 months. Speaking to Business Standard Shriram Properties’ managing director M Murali said, “we are looking at going to the market in 2010. We hope there will be an improvement in the economy by that time”.
The company did not disclose the quantum of capital likely to be raised. The real estate company will invest in various projects in Chennai, Bangalore, Visakhappatnam and Kolkata. The company has a land bank of 1300 acres valued at Rs 4,000 crore in cities like Chennai, Bangalore, Coimbatore, Visakhapatnam and Kolkata.
