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Godrej Properties

Godrej Properties raises Rs 3,750 crore

NEW DELHI: Godrej Properties raised Rs 3,749.99 crore through Qualified Institutional Placement (QIP), the company said in a BSE file on Tuesday.

The Board of Directors approved the issuance and allocation of 2,58.62,068 shares of capital with a face value of Rs 5 per eligible institutional buyer at an issue price of Rs 1,450 against a minimum price of Rs 1513.39 per share of share capital, for a total of Rs 3,749.99. . Crore according to the problem.

In accordance with the allocation of shares in the issue, the Company’s paid-up share capital has increased from Rs 126.04 Crore consisting of 25.20 Basic Shares to Rs 138.97 Crore consisting of 27.79 Basic Shares of share capital with a par value of Rs 5 each.

Invesco Oppenheimer Market Development Fund, Government of Singapore, Monetary Authority of Singapore, Goldman Sachs Funds – Emerging Market Equity Portfolio of Goldman Sachs, University Retirement Scheme (USSL) such as SUP University Trustee and Baron Emerging Markets Fund has received more than five, the company said in the regulatory document: One hundred (5%) of the share capital offered for the issue.

In February, the company said the board of directors had approved an increase of Rs 3,750 crore, by issuing equity shares, fully convertible bonds, partially convertible bonds, non-convertible bonds (with or without collateral), and convertible preference shares. . In actions. , And/or any other securities convertible into equity shares in one or more tranches through public and/or private offers including preferential issuance and placement of eligible institutions.

It had announced a 69 percent decline in its consolidated net profit during the third quarter of FY 21, while consolidated net income witnessed a 40 percent decrease.

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