Godrej Properties raises 1,000 crore through preferential issue

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Bangalore, June 11, 2018: Godrej Properties Ltd. (GPL) (BSE scrip id: GODREJPRP), one of India’s leading real estate developers, announced that it has completed the allotment of 1,27,65,000 equity shares of Rs. 5 each to GAMNAT Pte. Ltd., a GIC- managed investment firm.  Through this preferential allotment, the issued, subscribed, and paid up capital of GPL stands increased to Rs.1,14,66,04,775 consisting of 22,93,20,955 equity shares of  Rs. 5/- each. The total capital raised from this issue is Rs. 1,000 crore.

Mr. Pirojsha Godrej, Executive Chairman, Godrej Properties said, “We are very happy to have a high-caliber institutional investor partner us in this next stage of our growth. We will use the entire capital raised to fund our exciting growth opportunities across India’s leading real estate markets. ”

Corporate Comm India(CCI Newswire)