Godrej Properties has received approval to raise funds through issuance of 1,00,000 Rated Listed Unsecured Redeemable Non-Convertible Debentures (NCDs) of face value of Rs 1,00,000 each, aggregating to Rs 1000 crore consisting of a Base Issue of 40,000 Rated Listed Unsecured Redeemable Non-Convertible Debentures of face value of Rs 1,00,000 each, aggregating to Rs 400 crore with an option to retain oversubscription of up to 60,000 Rated Listed Unsecured Redeemable Non-Convertible Debentures of face value of Rs 1 lakh each, aggregating to Rs 600 crore (Series I Debentures).
The company has also received approval to raise funds through issuance of 50,000 Rated Listed Unsecured Redeemable Non-Convertible Debentures of Face Value of Rs 1,00,000 each, aggregating to Rs 500 crore consisting of a Base Issue of 10,000 Rated Listed Unsecured Redeemable Non-Convertible Debentures of Face Value of Rs 1,00,000 each, aggregating to Rs 100 crore with an option to retain oversubscription of up to 40,000 Rated Listed Unsecured Redeemable Non-Convertible Debentures of face value of Rs 1,00,000 each, aggregating to Rs 400 crore (Series II Debentures). The Management Committee of the Board of Directors of the Company has on September 14, 2023, approved the same.
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.
