Godrej Properties has raised Rs 1,160 crore through the issue of non-convertible debentures on a private placement basis. The allotment committee of the Board of Directors approved the allotment of the Non-Convertible Debentures (NCDs).
The company has allotted 1 lakh rated listed unsecured redeemable NCDs of the face value of Rs 1,00,000 each, aggregating to Rs 1,000 crore. For these series I NCDs, the maturity date is March 19, 2027, with a coupon rate of 8.3 per cent. Separately, it has allotted 16,000 NCDs of a face value of Rs 1 lakh each, aggregating to Rs 160 crore. For these Series II NCDs, the date of maturity is September 20, 2028, and the coupon rate is 8.5 per cent. The interest for all NCDs will be paid annually.
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.
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