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Godrej Properties’ shareholders approve raising up to Rs 3,750 crore

New Delhi: Real estate company Godrej Properties said Monday that the company’s shareholders have approved the company’s proposal to raise up to Rs 3,750 crore through a securities issue.

In a regulatory filing, the Mumbai-based developer reported that shareholders who had the required majority had issued a special resolution on the matter.

Godrej Properties has requested shareholder approval via mailing ballot.

The special decision was to agree to raise funds in one or more tranches, by issuing securities in an amount not exceeding Rs. 3,750 crore.

The shareholders also agreed to improve the company’s investment limit to 7.5 billion rupees.

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