Sunday , October 17 2021

Godrej Properties shines on raising Rs 3,750 crore through QIP

Godrej Properties is currently trading at Rs. 1454.35, up by 33.25 points or 2.34% from its previous closing of Rs. 1421.10 on the BSE.

The scrip opened at Rs. 1425.00 and has touched a high and low of Rs. 1464.00 and Rs. 1425.00 respectively. So far 7771 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 5 has touched a 52 week high of Rs. 1573.45 on 01-Mar-2021 and a 52 week low of Rs. 505.95 on 24-Mar-2020.

Last one week high and low of the scrip stood at Rs. 1492.50 and Rs. 1412.05 respectively. The current market cap of the company is Rs. 39498.49 crore.

The promoters holding in the company stood at 64.44%, while Institutions and Non-Institutions held 25.77% and 9.79% respectively.

Godrej Properties has raised Rs 3,750 crore through sale of shares to institutional investors. The company had 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.

Godrej Properties is a realty firm of Godrej group and it is one of the leading real estate development companies in India based in Mumbai, Maharashtra. Currently, their business focuses on residential, commercial and township developments

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