Godrej Properties has raised Rs 3,750 crore through sale of shares to institutional investors. The company had launched its qualified institutional placement (QIP) issue to raise up to Rs 3,750 crore. The QIP committee of the board of directors of the company approved the issue and allotment of 2,58,62,068 equity shares of face value Rs 5 each to eligible qualified institutional buyers at the issue price of Rs 1,450, against the floor price of Rs 1,513.39 per share, aggregating to Rs 37,49,99,98,600.
Godrej Properties is a realty firm of Godrej group and it is one of the leading real estate development companies in India based in Mumbai, Maharashtra. Currently, their business focuses on residential, commercial and township developments.
