Realty firm Godrej Properties on Tuesday said it has raised Rs 3,750 crore through sale of shares to institutional investors. Last week, the company 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, according to a regulatory filing. The issue opened on March 9, 2021 and closed on March 15, 2021. Invesco Oppenheimer Developing Markets Fund, Government of Singapore, Monetary Authority Of Singapore, Goldman Sachs Funds - Goldman Sachs Emerging Markets Equity Portfolio and Universities Superannuation Scheme Ltd (USSL) As Trustee Of Universities SUP and Baron Emerging Markets Fund are major investors who participated in the QIP.
The QIP issue opened on 9 March 2021 and closed on 15 March 2021.The QIP issue committee of board of directors of the company approved allotment of 2,58,62,068 equity shares to eligible qualified institutional buyers at the issue price of Rs 1,450 per equity share, against the floor price of Rs 1,513.39 per equity share, aggregating to Rs 37,49,99,98,600.
Allottees who were issued more than 5% of the total equity shares offered in the QIP are Invesco Oppenheimer Developing Markets Fund (24.87%), Government Of Singapore (13.05%), Monetary Authority Of Singapore (8.34%), Goldman Sachs Funds - Goldman Sachs Emerging Markets Equity Portfolio (6.7%), Universities Superannuation Scheme (5.84%) and Baron Emerging Markets Fund (5.14%).
Pursuant to the allotment of equity shares in the issue, the paid-up equity share capital of the company stands increased from Rs 126,04,04,915 consisting of 25,20,80,983 equity shares to Rs 138,97,15,255 consisting of 27,79,43,051 equity shares.
New investor Invesco Developing Markets Fund invests USD 150 mnGodrej Properties announced that the company raised Rs 3750 crore through the QIP route.
The company saw a strong mix of investors with nearly 90% of the book being
allocated to long only investors. GPL s largest existing external shareholder,
GIC, strongly backed the QIP with an investment of USD 110 million while the
largest investor in the QIP was a new investor, Invesco Developing Markets
Fund and certain other funds managed by Invesco Advisers, Inc., that is
investing USD 150 million.
GPL has identified several growth opportunities and intends to use the net
proceeds received from this issue for augmenting long term capability building and scaling the business rapidly in the years to come.
Nahar Capital & Financial Services Ltd, HPL Electric & Power Ltd, CL Educate Ltd and AGI Infra Ltd are among the other gainers in the BSE s B group today, 15 March 2021.
Nahar Capital & Financial Services Ltd, HPL Electric & Power Ltd, CL Educate Ltd and AGI Infra Ltd are among the other gainers in the BSE s B group today, 15 March 2021.
Nahar Polyfilms Ltd spiked 19.96% to Rs 120.5 at 12:03 IST. The stock was the biggest gainer in the BSE s B group. On the BSE, 94965 shares were traded on the counter so far as against the average daily volumes of 8159 shares in the past one month.
Nahar Capital & Financial Services Ltd soared 18.58% to Rs 123.5. The stock was the second biggest gainer in B group. On the BSE, 22419 shares were traded on the counter so far as against the average daily volumes of 7423 shares in the past one month.
Read more about DLF plans to raise Rs 500 cr via NCDs on Business Standard. The realty major s board will meet on 17 March 2021 to consider the proposal.