Shriram Properties to raise Rs 600 cr via IPO, price band set at Rs 113-118

Proceeds to be used to retire debt; company to expand footprint in the south while steering clear of northern and western markets

Days after Shriram Group founder R Thyagarajan lined up the company's succession roadmap through the trust route, group company Shriram Properties is planning to raise around Rs 600 crore via the public issue. The company said that the real estate market has bounced back from the pre-Covid levels now.

It is also planning to expand its footprint in South India and has no plans to foray into the North and Western market. The three-day initial public offering will open on December 8 and conclude on December 10 with its price band fixed at Rs 113-Rs 118 per share of face