India's Shriram Properties files IPO papers to raise $35.6m

Bengaluru-based real estate developer Shriram Properties Ltd on Monday filed draft documents with markets regulator, Securities and Exchange Board of India (Sebi), for an initial public offering (IPO). The company, part of the Shriram Group, plans to raise up to ₹250 crore in fresh capital through the IPO, according to the draft red herring prospectus (DRHP) available on the website of merchant bankers managing the share sale.