Godrej Properties gained 4.14% to Rs 1512 after the company launched a qualified institutional placement (QIP) of equity shares on Tuesday (9 March 2021).In a regulatory filing, the company said the QIP committee of the board of directors, in its meeting held on Tuesday, approved and adopted the preliminary placement document in connection with the issue. It also approved the opening of the issue from 9 March 2021. The panel approved the floor price for the issue at Rs 1,513.39. The floor price is at 4.24% premium to Godrej Properties' closing price of Rs 1451.85 on Tuesday. The board is scheduled to meet on 15 March 2021 to fix the issue price of the equity shares to be allotted to qualified institutional buyers, pursuant to the Issue.