Godrej Properties Raises Rs 2,100 Crore Equity Capital Via QIP

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On Saturday, the QIP committee approved the issue and allotment of over 2.26 crore equity shares to eligible qualified institutional buyers at the issue price of Rs 928, aggregating to Rs 2,100 crore, Godrej Properties said in a regulatory filing.

New Delhi: Godrej Properties on Saturday said it has raised Rs 2,100 crore by issuing equity shares to qualified institutional buyers (QIBs).

The QIP (Qualified institutional Placement) committee of the board of directors at its meeting held on Saturday approved the issue and allotment of over 2.26 crore equity shares to eligible qualified institutional buyers at the issue price of Rs 928, aggregating to Rs 2,100 crore, Godrej Properties said in a regulatory filing.

The issue had opened on June 25 and closed on June 28, 2019.

"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 added.