Godrej Properties to raise Rs 6,000 crore via QIP for business expansion

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Godrej Properties to raise Rs 6,000 crore via QIP for business expansion - Business Standard

Quick Summary:

Godrej Properties will raise Rs 6,000 crore by selling equity shares to institutional investors through QIP issue as it looks to expand business amid strong demand for residential plots and apartments.

In a regulatory filing on Wednesday, Godrej Properties informed that the QIP Placement Committee approved the floor price for the QIP issue at Rs 2,727.44 per equity share.

According to market sources, Godrej Properties has received a strong response from domestic and global investors and the company will raise the entire Rs 6,000 crore.