Indianprofits.com

Shriram Properties part of the Shriram Group which is based in Chennai, has appointed Macquarie and Enam Financial Consultants as advisors for the proposed Rs 500-700-crore initial public offering. This would be the first reality company to hit the markets after the withdrawl of Emmar MGF. Sun Apollo, Citigroup and Starwood Capital are the main investors in the Rs 460 crore Shriram Properties. 80% is held with the promoters, the IPO is expected to hit the market around the third quarter of the current fiscal. The company is also exploring the private placement route to raise capital if the IPO fails.