The initial public offer (IPO) of Shankara Building Products is slated to open on 22 March 2017. The offer comprises a fresh issue of shares aggregating up to Rs 45 crore and an offer for sale (OFS) of up to 8.16 lakh shares by its promoter, Sukumar Srinivas and up to 57.05 lakh shares by Fairwinds Trustees Services, acting in the capacity of trustee of reliance alternative investments fund - private equity scheme I (collectively the selling shareholders). The offer will constitute at least 25% of the company's post-offer paid-up equity share capital. The IPO closes on 24 March 2017.

The price band for the IPO was fixed at Rs 440 to 460 per share. The company intends to use the proceeds from the offer towards repayment or pre-payment of loans and general corporate purpose.

Shankara Building Products is one of India's leading organised retailers of home improvement and building products in India, based on number of stores operating under "Shankara Buildpro". The company's operations are headquartered in Bangalore. The distribution network, branch offices, warehouses and retail stores span the states of Karnataka, Kerala, Andhra Pradesh, Telangana, TamilNadu, Maharashtra, Gujarat, Orissa, Goa, Madhya Pradesh and Puducherry.