Godrej Properties raises over Rs1,000cr through preferential allotment to GIC entity

Godrej Properties Ltd (GodrejProp), a Mumbai based realty firm, said that it has raised over Rs1,000cr through preferential allotment to GIC entity. Godrej Properties Ltd (GodrejProp), a Mumbai based realty firm, said that it has raised over Rs1,000cr through preferential allotment to GIC entity. In a statement to the stock exchanges today, the company said that it has completed allotment of 1,27,65,000 equity shares of Rs5/each to GAMNAT Pte Ltd, a GIC-managed investment firm at a issue price of Rs783.50/share. Through this preferential allotment, the issued, subscribed and paid up capital of GodrejProp stands increased to Rs114.66cr consisting of 22,93,20,955 equity shares of Rs5 each. The company said that it will utilise funds raised through the preferential issue to tap growth opportunities across India’s real estate markets. Godrej Properties Ltd is currently trading at Rs787.50 up by Rs1.8 or 0.23% from its previous closing of Rs785.70 on the BSE.

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