Shriram Properties makes a weak debut, shares list at 15% discount

Shares of Shriram Properties made a weak debut on the bourses on Monday. The stock got listed at Rs 94 — a 20 per cent discount to its issue price.

The stock gained a bit after listing and ended the session at Rs 99.4 — a 15.7 per cent discount to its issue price. 

After listing, the firm commands a market capitalisation of Rs 1,686 crore.

The initial public offer (IPO) of Shriram Properties was subscribed 4.6x.  The institutional bucket was subscribed 1.85x, the high networth individual portion by 4.82x, the retail investor portion 12.7x, and the portion reserved for employees was subscribed