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Godrej Properties raises Rs 3,750 crore via QIP issue

Godrej Properties raises Rs 3,750 crore via QIP issue
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Godrej Properties raises Rs 3,750 crore through QIP


Godrej Properties raises Rs 3,750 crore through QIP
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Goldman Sachs Funds, Government of Singapore, Invesco Oppenheimer Developing Markets Fund and Monetary Authority of Singapore among key investors
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The company has raised these funds to drive consolidation through this additional capital and use it to significantly strengthen its development portfolio.
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MUMBAI: Godrej Properties, real estate development arm of the Godrej Group, has raised Rs 3,750 crore through a Qualified Institutional Placement (QIP) of 2.59 crore equity shares to global investors including Goldman Sachs Funds, Government of Singapore and Invesco Oppenheimer Developing Markets Fund.
Monetary Authority of Singapore, Universities Superannuation Scheme and Baron Emerging Markets Fund are also among the investors that have been allotted more than 5% equity shares offered in the issue. ....

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Godrej Properties raises Rs 3,750 crore through QIP issue


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 ....

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