Shriram Properties Limited — Important, 16-12-2024: Updates

Mr. M. Murali, Chairman and Managing Director of Shriram Properties Limited, has secured SEBI approval for the acquisition of 13,38,335 equity shares of Shriram Properties Holdings Private Limited from the Shriram Group Executive Welfare Trust. As a result, Mr. Murali has acquired 531,531 shares, increasing his stake in SPHPL to 9,15,501 shares, equating to 48.47% of SPHPL (and an indirect holding of 13.44% in SPL). The remainder of the shares held by the Trust is expected to be acquired by him in multiple tranches within the next year. Importantly, this transaction, being an inter-se transfer among promoters, will not alter overall promoter holdings in Shriram Properties and will not affect the company's business or control dynamics. The company will also maintain its name and continues to build its reputation in the real estate sector.