The Planet Godrej residential building in the Byculla area of Mumbai. The Godrej Properties QIP had opened on June 25 and closed on June 28. (Photographer: Dhiraj Singh/Bloomberg)

Godrej Properties Raises Rs 2,100 Crore Through QIP

Godrej Properties Ltd. on Saturday said it has raised Rs 2,100 crore by issuing equity shares in a qualified institutional placement.

A committee of the Godrej Properties board, at its meeting held Saturday, approved the QIP for issue of over 2.26 crore shares to eligible qualified institutional buyers at an issue price of Rs 928 apiece. At this price, the Godrej Properties QIP aggregates to Rs 2,100 crore, the real estate firm said in a regulatory filing.

“Pursuant to the allotment of equity shares in the issue, the paid-up equity share capital of the company stand increased from Rs 114.69 crore consisting of 22.93 crore shares to Rs 126.01 consisting of 25.2 crore shares,” it said.

The Godrej Properties QIP had opened on June 25 and closed on June 28.

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